MRP increases dividends up to 110 percent of profit

Fri, 23 Nov 2012

By Pattrick Smellie Nov 23 (BusinessDesk) - State-owned electricity company MightyRiverPower is raising its dividend policy from 75 percent of earnings to between 90 percent and 110 percent, saying it has fewer investment needs in the near future, and sweetening its attraction for investors in its partial privatisation. The government plans to offer up to 49 percent of the Auckland-based firm, which owns the Mercury Energy brand and a string of hydro and geothermal power plants in the central North Island, for sale in the second quarter of ne...

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