Tenon forecasts first cash returns in a decade

Wed, 19 Feb 2014

By Pattrick Smellie Feb 20 (BusinessDesk) – Wood mouldings manufacturer Tenon expects to resume cash returns to shareholders in the second half of the current financial year after achieving a long-sought end to years of losses. Tenon broke even on a net basis in the six months to Dec. 31 as the North American housing market starts to recover, the Taupo-based company said in a statement. Whether cash will be returned by dividend or share buyback is undetermined as yet, but it will be the first cash return to shareholders in a decade, when Ten...

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