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

Alliance Group on path back to profit
Primary Sector

Alliance Group on path back to profit

It now needs north of $200 million of capital to restore its balance sheet.

Potential Mainland buyers may soon tap regulators
Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025
TTR files fast-track application to mine Taranaki sand
Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025