NZL reinstates dividends, reports $10.9m profit

NZL reinstates dividends, reports $10.9m profit
(Image: supplied)
Staff reporters
New Zealand Rural Land Company has reinstated its dividend after reporting a full-year net profit of $10.9 million.The NZ stock exchange-listed (NZX) rural landlord suspended dividends last year, opting to use cash for a share buyback program and repay debt.The company’s board, at the time, considered the share price “materially” undervalued its assets.Now, at its full-year results, NZ Rural Land Company (NZL) has reinstated the dividend with an amended policy targeting a pay-out of between 60% and 90% of adjusted funds from o...

More Primary Sector

Job cuts on the table at embattled BX Foods
Primary Sector

Job cuts on the table at embattled BX Foods

The meat processor operates a plant in Oamaru.

Riley Kennedy 25 Jul 2024
NZ raises its concerns with EU over deforestation regulation
Primary Sector

NZ raises its concerns with EU over deforestation regulation

The regulation is tipped to pose “quite significant burdens”.

Riley Kennedy 25 Jul 2024
Foresta parts ways with managing director Ray Mountfort
Primary Sector

Foresta parts ways with managing director Ray Mountfort

The company assured shareholders plans for a biomass plant in Kawerau are on track.

Greg Hurrell 25 Jul 2024