South Port to maintain dividend in face of weaker earnings

Wed, 24 Oct 2018

By Paul McBeth Oct. 25 (BusinessDesk) - South Port New Zealand reiterated plans to maintain its dividend this year, even as earnings are squeezed by increased spending to repair and replace ageing assets. Chairman Rex Chapman reaffirmed guidance for earnings in the year ending June 30 to be about 10 percent lower than the record $9.66 million reported last year. That's due to the added cost of updating assets near the end of their life. The board also said it plans to keep paying the current dividend of 26 cents, representing a gross yie...

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