Millennium & Copthorne raises dividend on improved underlying earnings

Fri, 19 Feb 2016

By Paul McBeth Feb. 19 (BusinessDesk) - Millenium & Copthorne Hotels New Zealand, the hotel operator and property developer, raised its annual dividend payment as increased occupancy helped deliver a boost in underlying earnings. The Auckland-based company will pay a dividend of 2.8 cents per share on May 20, up from 2.4 cents a year earlier, after its hotel operations delivered a better performance and its property development unit lifted land sales. Net profit after minorities fell to $21.7 million, or 13.7 cents per share, in calendar...

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