Tenon shares surge as it seeks US equities market exposure, flags cash returns

Tue, 03 Dec 2013

By Pattrick Smellie Dec 4 (BusinessDesk) – NZX-listed high value timber products exporter Tenon is to explore ways of enticing US investors to back the stock as the American housing market starts to lift the company’s earnings after a seven year slog through the sub-prime mortgage and global financial crises. Chairman Luke Moriarty told shareholders at the company’s annual meeting in Auckland the company would also start a capital return programme for shareholders in the latter half of 2014 and would seek to improve liquidity in the short te...

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