NZOG returns to interim dividends after more than a decade

Tue, 29 Jan 2013

Jan 30 (BusinessDesk) - New Zealand Oil & Gas says its war-chest is full enough and its cashflows steady enough to return to paying interim dividends for the first time in perhaps 15 years, but there's no prospect of an increase on the current annual payout of six cents a share. The company will also halt the 2.5 percent discount previously offered in dividend reinvestment scheme, saying it doesn't need to raise capital at the moment and the discount disadvantaged non-participating shareholders. Recently appointed chief executive David Knight...

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