MARKET CLOSE NZ shares fall on Chorus dividend doubts; Air NZ selldown underway

Mon, 18 Nov 2013

Nov. 18 (BusinessDesk) – New Zealand shares fell, led by Chorus, after the network company withdrew its guidance on paying dividends next year because of the uncertainty created by looming regulated prices and the government’s possible response. The NZX 50 Index fell 22.04 points, or 0.4 percent, to 4892.035. Within the index, 22 stocks fell, 18 rose and 10 were unchanged. Turnover was $105 million. Chorus dropped 5.2 percent to $1.90 after the company withdrew its guidance of dividend payments of 25.5 cents a share for 2014 citing uncertain...

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