Infratil plans $65 mln share buy-back to plump up price, flags more dividend growth

Thu, 26 Sep 2013

By Paul McBeth Sept. 27 (BusinessDesk) - Infratil, the listed infrastructure investment firm which sold down its stake in Z Energy last month, is planning a $65 million share buy-back programme as it looks to boost the price of its stock, and said shareholders can expect to see more dividend growth in coming years. The Wellington-based firm, managed by investment bank Morrison & Co, plans to buy back up to 24.8 million shares at $2.60 apiece, a 6.6 percent premium to the share price before today’s announcement. Based on Infratil’s internal...

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