Silver Fern repays wage subsidy, declares $12.4m dividend

Brent Melville
Thu, 23 Jul 2020

Silver Fern Farms, the country's largest red meat company, has paid back its $43.3 million covid-19 employee wage subsidy to government and declared a dividend to the shareholder cooperative of $12.4 million. The payments come on the back of the $70.7 million net profit the company announced mid April, with a dividend to its farmer-owned cooperative and co-owner Shanghai Mailing Aquarius deferred at the request of the shareholders until the outlook for the global trading environment had become clearer.  The operating company had reported...
Markets
MARKET OPEN: Kiwi holds its own as greenback falters, US equities push higher
Rebecca Howard | Thu, 06 Aug 2020

The kiwi dollar continues to hold its own as the greenback is weighed down by poor US data while the domestic share market may take cheer from a lift on Wall Street after positive earnings reports. ...

Listed Companies
Billion dollar hotel developments on backburner until better times
Brent Melville | Thu, 06 Aug 2020

Plans for at least 25 major hotel developments, valued at $2 billion, are gathering dust pending decisions on when, or if, construction will commence in the wake of border closures. The two dozen o...

Listed Companies
Pacific Edge seeks US$40m backpay from US administrator
Brent Melville | Thu, 06 Aug 2020

Pacific Edge is chasing 22,000 outstanding invoices dating back to 2015 as it seeks up to US$40 million in backpay from US medical aid administrator Novitas. The retrospective claim follows last mo...

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Don’t fear the robots. How software can help your business succeed

New Zealand businesses are on the road to recovery from the economic impact of the Covid-19 crisis but they, like corporates around the world, are having to change their operational practices.