Port of Tauranga defers spec div to focus on berth extension

Port of Tauranga defers spec div to focus on berth extension
Gavin Evans
Port of Tauranga has suspended its special dividend so it can focus on its expansion plans and better weather the fall-out from the covid-19 pandemic.The country’s biggest container port today reported a 10.5 percent decline in full-year net profit after the covid lockdown in April and May restricted some trade.It is picking a three-year recovery in volumes in the “uncertain” global covid environment, and has opted to hold back about $17 million by not paying the 2.5 cent special dividend it was to pay in October at the start...

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