NZ Refining seen stepping up dividends on record earnings, lower debt

Thu, 28 Jan 2016

By Tina Morrison Jan. 28 (BusinessDesk) - New Zealand Refining is expected to resume dividend payments in 2015 and almost double the amount it returns to shareholders the following year as analysts anticipate record earnings from the country's only oil refinery. The Whangarei-based company is anticipated to pay a total dividend of 19 cents a share in the 2015 financial year, stepping it up to 35 cents for 2016, according to a Reuters summary of analyst forecasts. Its results are due to be released on Feb. 24. The company cancelled dividen...

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