Ports of Auckland drops dividend; outlook darkens

Ports of Auckland drops dividend; outlook darkens
Paul McBeth
Ports of Auckland won’t pay a first-half dividend to the city as its automation programme eats into earnings and the coronavirus outbreak weighs on transport movements.The port operator said it wouldn’t make an interim payment and expected to pay a lower annual dividend than the $8.7 million forecast. It had previously said it would pay a smaller dividend to Auckland Council while it ramped up spending on automating various processes, with a $9.4 million dividend forecast for 2021, rising to $64.3 million the following year. It paid $18.6 milli...

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