Kiwibank will start paying dividends to NZ Post this year, CEO says

Sun, 22 Feb 2015

By Tina Morrison Feb. 23 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, expects this year to pay its first annual dividend after 13 years of operation, reflecting its increased size, record profits and its ability to fund its own activities. Wellington-based Kiwibank increased profit 37 percent to a record $71 million in the six months ended Dec. 31, it said in a statement. The banking unit accounted for the bulk of NZ Post's $100 million profit in the period. Launched in 2002, Kiwibank now has 880,000 cus...

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