PGW puts dividends on ice given 'uncertainties' in sector, wider economy

PGW puts dividends on ice given 'uncertainties' in sector, wider economy
PGG Wrightson chief executive Stephen Guerin (Image: Supplied)
Riley Kennedy
PGG Wrightson’s shareholders will have to wait until the end of its financial year to see whether they’ll get a dividend.The listed rural services firm has suspended the interim dividend, saying it doesn’t want to add debt “in the face” of rising interest rates.And, given uncertainties in the sector, the company believes it is “prudent” to wait until the full year before reviewing the dividend payout ratio – “if any”.Just before 11am, PGW’s share price was trading at $3, down 7.1...

More Primary Sector

NZ exporters salivating at possible UAE trade deal
Primary Sector

NZ exporters salivating at possible UAE trade deal

The United Arab Emirates is already an important market for NZ dairy and meat exports.

Dairy Goat Co-op chair Campbell Storey to step down
Primary Sector

Dairy Goat Co-op chair Campbell Storey to step down

He won't go until the annual meeting in September, however.

Riley Kennedy 02 May 2024
John Penno quits Synlait board as George Adams elected chair
Primary Sector

John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

Riley Kennedy 01 May 2024