Spark signals $350m share buyback with TowerCo proceeds

Spark signals $350m share buyback with TowerCo proceeds
CEO Jolie Hodson said Spark is "on track to deliver our FY23 ambitions". (Image: Spark)
Ben Moore
Spark is firing on all cylinders with numbers up across the board for the June financial year, posting a net profit of $410 million, up 7.6% over the previous period’s $381m.The major telco’s board declared a final dividend of 12.5 cents per share, taking the annual return to 25cps and signalled plans to lift that to 27cps in the 2023 June year.Following the $900m capital injection from the sale of its passive tower assets, Spark is also promising a $350m on-market share buyback once the deal is completed.Another $350m will be inves...

More Markets

Baby Bunting's NZ teething over, posts earnings growth
Retail

Baby Bunting's NZ teething over, posts earnings growth

Baby Bunting plans to open its fifth New Zealand store by year-end.

Contact reports strong profit in tough conditions
Markets

Contact reports strong profit in tough conditions

Geothermal and gas positions offset fall in hydro generation.

Freightways outpaces flat NZ economy with 12.9% profit lift
Markets

Freightways outpaces flat NZ economy with 12.9% profit lift

More than a third of profits now come from across the Tasman. 

Mark Stewart makes bid for struggling Comvita
Markets

Mark Stewart makes bid for struggling Comvita

The listed mānuka honey is under pressure from weak demand and oversupply.