Markets

Early return to dividends for Z Energy

Pattrick Smellie
Thu, 06 May 2021

A quarter of Z customers don't claim discounts that make Z as cheap as Gull, the company says.
Pattrick Smellie
Thu, 06 May 2021
Z Energy is returning to paying dividends earlier than anticipated and despite a 35% drop in operating earnings in the year to March 31, caused by the covid-19 lockdowns and border closures.A $48 million cost reduction programme and successfully raising $347m equity during the year allowed banking covenant requirements that had previously stopped dividends to be renegotiated.The company will now pay a 14 cents per share final dividend on June 2, with a record date of May 21, and is forecasting dividends for FY22 of between 19c and 23c per share...

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