Rural Land Co suspends dividend to buy back shares

Rural Land Co suspends dividend to buy back shares
The company says it gives New Zealanders a way of investing in land as an asset class. (Image: NZRLC)
Ella Somers
The board of New Zealand Land Co says its current share price “materially undervalues” the company's assets and free cash flow. To counter this, the company has decided to suspend dividends for the current six-month period to June 30 in favour of a share buyback scheme. “Cash previously earmarked for dividends will be used to purchase shares on market and to repay the convertible note which was issued to support the recent forestry acquisition,” the company told the New Zealand stock exchange (NZX) today.Th...

More Primary Sector

Zespri on track for 'moderate increase' in volume next year
Primary Sector

Zespri on track for 'moderate increase' in volume next year

Zespri's producer vote to expand global supply passed this week.

Yashili NZ revenue dropped 42%
Primary Sector

Yashili NZ revenue dropped 42%

The Chinese-owned dairy processor’s accounts were due in May.

Zespri growers vote in favour of expanding global supply
Primary Sector

Zespri growers vote in favour of expanding global supply

Zespri’s growers have voted to support the expansion of the kiwifruit marketer’s global supply.A total of 90.6% of voting growers and 93.3% by fruit weight voted in favour of the resolution, which will allocate up to 420 hectares of SunGold fruit per year over six years in Italy,...

Riley Kennedy 11 Dec 2024
Greyhound racing to end
Primary Sector

Greyhound racing to end

Winston Peters says it will be phased out over 20 months.

Riley Kennedy 10 Dec 2024