NZME buys back 7.4% of shares

Last month the company opened the door to additional capital management options. (Image: NZME)

Mon, 19 Dec 2022

New Zealand Media & Entertainment (NZME) has completed its on-market share buyback, paying $17.5 million for 14.7m shares, or 7.4% of the shares on issue.The New Zealand stock exchange-listed company, owner of BusinessDesk, the NZ Herald and a host of radio stations, including Newstalk ZB, announced it would buy up to $30m of its own shares as a vehicle to return capital to shareholders post the sale of GrabOne for $17.5m last August.That, together with a special dividend of $9.7m, at 5 cents a share, declared on June 22, saw the total payo...

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