SkyCity dividend suspension not due to covenant breach risk: chair

Chair Julian Cook says there is no material change to SkyCIty's liquidity. (Image: NZME)

Thu, 06 Jun 2024

SkyCity chair Julian Cook says a decision to freeze dividend payments until 2026 was not because the company was at any risk of breaching financial obligations to its lenders. On an investor call Thursday, Cook said, “I would like to stress that without making this decision, the business was not headed towards a breach of any of its financial covenants under its financing agreements.” SkyCity’s share price took a beating after the company downgraded its earnings guidance for the 12 months to June 30 and said it would...

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