Sky TV shares sink to two-month low as dividend cut disappoints investors

Wed, 28 Feb 2018

By Paul McBeth Feb. 28 (BusinessDesk) - Sky Network Television shares fell to a two-month low after the pay-TV operator halved its interim dividend, retaining cash after cutting the price of its most basic product as it gears up for what may be an expensive battle to retain rugby broadcasting rights. The stock dropped as low as $2.54 and was recently 7.5 percent lower at $2.59 after Auckland-based Sky TV's board declared an interim dividend of 7.5 cents per share, half what it paid a year earlier. The company also announced cheaper entry...

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