NZME shareholders face a longer wait for dividends

Wed, 03 Jun 2020

NZME’s 740 shareholders face another year without any dividends with new banking arrangements banning distributions until July next year at the earliest. The media group suspended dividends at the end of 2018 when the board decided to focus on shoring up its balance sheet by repaying debt. Since the end of December, NZME reduced its net debt to $62 million by the end of May. The publisher of the NZ Herald newspaper and operator of The Radio Network stations has extended the term of its banking facilities with Westpac New Zealand and Commo...

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