NZ Guardian Trust reverts to normal-sized dividends after exit payment to Suncorp

Thu, 30 May 2013

By Jonathan Underhill May 30 (BusinessDesk) – New Zealand Guardian Trust, the trustee company acquired by ASX-listed Trust Co in early 2011, has reverted to a lower dividend based on earnings after making a bigger payment to its former owner as part of the sale agreement. The company paid a dividend of $3 million in the year ended Feb. 28, its financial statements show. That’s down from the $8.49 million paid the previous year to former owner Suncorp Group. The dividend to Suncorp was part of the sale agreement to Trust Co and was the first...

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