NZME makes up for slow buyback with $10m special dividend

Dan Brunskill
Mon, 20 Jun 2022

NZME will pay shareholders a $9.7 million special dividend in place of its share buyback programme, which has been paused while the company is in a restricted trading period.The media company and owner of BusinessDesk said the $30m buyback had been “slower than anticipated” due to low trading volumes – which makes it harder to buy on market without pushing the price higher.To date, NZME has only bought $5.3m of shares for an average price of $1.31.With the first half of NZME’s financial year ending next week, the company...

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