Meridian lifts annual earnings 5.6%, beating forecast; pays special dividend

Tue, 18 Aug 2015

By Paul McBeth Aug. 19 (BusinessDesk) - Meridian Energy, the country's biggest electricity generator, lifted annual earnings 5.6 percent, beating its prospectus forecast, and plans to pay a second special dividend after asset sales helped boost the company's cashflow. The company is embarking on a five year capital management programme in which it intends, barring unforeseen investment opportunities or changes to the market, to return some $625 million to shareholders, chief executive Mark Binns said. Earnings before interest, tax, dep...

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