Mainfreight declares flat dividend, hands back $11m wage subsidy

Wed, 27 May 2020

Global logistics group Mainfreight has weathered the covid-19 storm, declaring an unchanged final dividend of 34 cents for the year ended March 31.Reflecting its improved trading levels post covid-19 shutdown, the company returned the $10.6 million wage subsidy it received in April on behalf of its 1,526 New Zealand staff.Managing director Don Braid said the pandemic had had a significant impact and would continue to affect economic conditions as slower consumer demand sees freight volumes and supply chain activity contract.“In the f...

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