Port of Tauranga may increase dividends, make extra payments, as spending returns to normal

Port of Tauranga may increase dividends, make extra payments, as spending returns to normal
By Tina Morrison Oct. 7 (BusinessDesk) – Port of Tauranga, New Zealand’s largest export port, may increase its dividend payout ratio and make additional capital payments to investors as cash flows return to normal levels after a period of higher spending, according to brokerage Craigs Investment Partners. The port company will probably spend an average $48 million a year over 2012-16 to complete its current expansion and dredging plans, Arie Dekker, an analyst at Craigs said in a research note. Beyond 2016, the company will probably revert to...