Sanford to resume paying dividend

Sanford deepwater fishing vessel berthed in Timaru. (Image: Sanford)

Tue, 15 Nov 2022

Seafood company Sanford will resume paying a dividend after a two-year hiatus but said earnings haven’t yet returned to pre-pandemic levels as covid-19 still had a “sting in its tail”.“Our markets have returned, but we have been increasingly challenged by our ability to supply our seafood due to labour availability and cost pressures, particularly in fuel, freight and feed,” said chief executive Peter Reidie.Adjusted earnings before interest and tax (Ebit) were $40.2 million in the 12 months to Sept 30 versus $23.3...

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