NZX signals end to unconventional dividend policy in 2014

Thu, 02 May 2013

May 3 (BusinessDesk) – NZX has signalled an end to its unconventional dividend policy, which has tied the stock market operator to stepped increases of not less than 1 cent a share since 2009. The Wellington-based company today declared a first-quarter dividend of 1.25 cents a share and expects to pay 5.6 cents for the year. That’s based on a dividend policy introduced in 2009 that switched the payment focus to cents-per-share of operating earnings rather than the previous 60 percent of net profit and locked the company into minimum annual in...

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