Fletcher buyback timing likely to boost exec bonuses

Fletcher buyback timing likely to boost exec bonuses
Chief executive Ross Taylor took a pay cut last year during covid but could be in for an incentive bonus this year.
Dan Brunskill
Fletcher Building’s $300 million share buyback programme appears timed to boost the firm’s share price ahead of its balance date, which would help its executives earn incentive bonuses.Last week, the construction firm began the programme, purchasing 800,000 shares on the NZX and ASX for approximately $7.85 each – returning $6.4m to shareholders.The buyback was announced in the last week of May alongside a virtual investor day a month before the company’s full year balance date, June 30.This is similar to the timing of Fl...

More Markets

Tourism Holdings stalls as NZ sharemarket ends week on high
Markets Market Close

Tourism Holdings stalls as NZ sharemarket ends week on high

The NZ sharemarket bounced back as large-cap stocks balanced gains and losses.

Tom Raynel 04 Jul 2025
Forsyth Barr shifts Turners Automotive to neutral
Markets

Forsyth Barr shifts Turners Automotive to neutral

The company has delivered five consecutive years of record earnings.

Rebecca Howard 04 Jul 2025
Vital board backs Tait takeover
Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Gregor Thompson 04 Jul 2025
Listed property firms welcome ‘Investment Boost'
Property

Listed property firms welcome ‘Investment Boost'

The tax policy could translate into millions in extra cash.

Gregor Thompson 04 Jul 2025