Port of Tauranga has '$200M headroom' to chase opportunities even with capital return, Cairns says

Fri, 19 Aug 2016

By Jonathan Underhill Aug. 19 (BusinessDesk) - Port of Tauranga has some $200 million of "headroom" it could use at short notice to pursue growth opportunities even if it proceeds with the full $140 million capital return it has flagged for the next four years, says chief executive Mark Cairns. New Zealand's biggest port company yesterday declared a fully imputed special dividend of $34 million, or 25 cents a share, as the first step in a capital return proposal that chairman David Pilkington says will still allow for a conservatively gea...

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