Ports of Auckland cuts dividend, ex-CEO gets $1m payout

Ports of Auckland has cited tough pandemic conditions as it cuts its annual dividend to the Auckland Council by $1.2 million, to $3.7m, for the year to June, about the size of its ex gratia payment to former chief executive Tony Gibson.Last year, it slashed its dividend to its owner by three-quarters to $4.9m, from a pre-covid dividend in December 2018 of $18.6m. No interim dividend was declared at the halfway stage.Gibson stepped down at the end of June after coming under fire for the port’s poor health and safety record, as well as cost...