Z cancels dividend, in talks with banks

Fri, 03 Apr 2020

Z Energy has cancelled its final dividend, stopped non-essential capital spending and is in talks with its banks for more working capital flexibility as it negotiates the covid-19 lockdown and volatile oil and foreign exchange markets.New Zealand’s biggest fuel seller today narrowed its profit guidance, putting operating earnings for the March year just ended in the bottom half of the reduced guidance the firm provided in December.It said earnings before interest, tax, depreciation, amortisation and changes in financial instruments will fall to...

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