Mercury guides to higher 2021 earnings, dividend

Tue, 18 Aug 2020

Mercury NZ increased its dividend for a 12th straight year despite low inflows for its Waikato hydro system and the impact of the covid-19 lockdown. And the country’s third-largest electricity retailer is signalling a further increase next year, with growth in the business and initial production from its Turitea wind farm offsetting another year of below-average hydro production. The company today reported a net profit of $207 million for the year ended June 30, down from $357 million the year before when it booked a $177 million gain on...

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