UPDATE: Christchurch council company meets first deadline for capital 'release'

Thu, 29 Sep 2016

(Recasts with details of special dividend, comment from CEO) By Jonathan Underhill Sept. 29 (BusinessDesk) - Christchurch City Holdings Ltd, the city council's investment unit, has met its target under the city's long-term strategy by paying a $90 million dividend, the first installment of a plan to return $600 million by the end of 2019 via 'capital release'. The council's amended long-term plan was affirmed in June, delaying $110 million of a planned initial $200 million payment until 2017. It got $132 million in total payments for t...

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