UPDATE: Z Energy shares rise on savings, dividend guidance

UPDATE: Z Energy shares rise on savings, dividend guidance
Gavin Evans
(Recasts to focus on savings initiatives, adds share price in 8th paragraph, Marpol risk to end) By Gavin Evans May 2 (BusinessDesk) - Z Energy shares rose after the company forecast a $22 million benefit from its efficiency initiatives in the current year and signalled at least a 12 percent increase in dividends. The company, which also operates the Caltex brand, cut its guidance twice last year and accelerated its work on new services and cost-saving initiatives after being caught out by a jump in crude oil prices and a weak New Zeal...

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