Trade Me won't pay interim dividend as Apax takeover looms

Tue, 26 Feb 2019

By Paul McBeth Feb. 27 (BusinessDesk) - Trade Me won't pay an interim dividend as Apax Partners' $2.56 billion takeover means the online auction site is likely to leave the NZX. The board decided against making the payment, which needs approval from Apax, saying the tax implications were such that it would be detrimental to some shareholders. However, if the $6.45 per share scheme implementation agreement doesn't get over the line, the board will consider declaring a special dividend, chair David Kirk said. Forsyth Barr analyst Matt...

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