MARKET CLOSE: NZ shares drop as stocks shed dividend rights; Synlait, Heartland, A2 fall

Thu, 06 Sep 2018

By Sophie Boot Sept. 6 (BusinessDesk) - New Zealand shares dropped as many large stocks shed their dividend rights, with Synlait Milk, Heartland Bank and A2 Milk Co leading the index lower. The S&P/NZX50 Index fell 126.4 points, or 1.4 percent, to 9,101.6. Within the index, 38 stocks fell, nine rose and three were unchanged. Turnover was $131.4 million. A lot of today's weakness came from large stocks going ex-dividend, with Air New Zealand, Heartland Bank, Trade Me Group, Sky Network Television and Vector all giving up dividend right...

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