Chorus dividend grows as revenue passes $1b

Data demand surpassed the previous peak during covid-related lockdowns. (Image: Chorus)

Mon, 26 Aug 2024

Chorus has upped its dividend again as revenue passes $1 billion for the first time and demand for data hits record heights.The broadband infrastructure provider posted $1.01b in revenue for the 12 months to June 30, 2024, an increase of 3% from the prior year’s $980 million.It reported a net loss of $9m, down from a profit of $25m, due to a non-cash tax expense following the removal of deductibility of tax depreciation for buildings, an $11m increase in depreciation of copper assets, and increased interest costs.Earni...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

a2 Milk boosts NZ sharemarket; Hallenstein Glasson leads gains

The S&P/NZX 50 Index ended up 41.24 points, or 0.32%, at 12,903.08.

Jamie Gray 6:21pm

Property

Summerset hastens care model pivot; govt subsidy 'suboptimal'

Summerset wants 75% of its care units to have an upfront license-to-occupy payment.

Gregor Thompson 12:05pm

Summerset hastens care model pivot; govt subsidy 'suboptimal'

Markets

Engine repairs drag on for Air NZ

Another ‘hard‘ year for the national carrier, weak FY26 ahead.

Pattrick Smellie 11:55am

Sponsored

A two-track approach to cracking NZ’s EV charging puzzle

Z Energy aims to support easing adoption bottlenecks by targeting the distinct needs of habitual and journey EV drivers.

Z Energy

Sponsored

AI efforts risk failure without clear business goals – Spark

It’s time for New Zealand businesses to move beyond AI experiments and start delivering measurable value.

Spark

More Markets

Markets Market Close

a2 Milk boosts NZ sharemarket; Hallenstein Glasson leads gains

The S&P/NZX 50 Index ended up 41.24 points, or 0.32%, at 12,903.08.

Jamie Gray 6:21pm

Property

Summerset hastens care model pivot; govt subsidy 'suboptimal'

Summerset wants 75% of its care units to have an upfront license-to-occupy payment.

Gregor Thompson 12:05pm

Markets

Engine repairs drag on for Air NZ

Another ‘hard‘ year for the national carrier, weak FY26 ahead.

Pattrick Smellie 11:55am

Markets

Air NZ's FY net profit slides in soft market

Air New Zealand has made a $126 million net profit after tax, down from $146m the year before.The airline stated that its 2025 financial year results reflected a sluggish domestic market, global engine maintenance challenges, and significant cost inflation.Earnings before tax wer...

Staff reporters 10:57am

Chorus dividend grows as revenue passes $1b

More Markets

Your company has a subscription

Team