Rebranded Landcorp pays first dividend in four years

Thu, 30 Aug 2018

By Rebecca Howard Aug. 30 (BusinessDesk) - State-owned Landcorp Farming has paid its first dividend in four years as earnings rose on increased livestock sales. The Wellington-based company paid a dividend of $5 million, its first since the 2013/14 financial year. Landcorp refrained from making cash returns to shareholders, reinvesting in new initiatives and later repaying debt instead. Revenue rose 7 percent to $247.1 million and earnings before interest, tax, depreciation, amortisation and revaluations met guidance at $48.5 million...

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