UPDATE: Contact shares rocket up on capital return plans

Sun, 24 May 2015

By Pattrick Smellie May 25 (BusinessDesk) - Contact Energy shares jumped more than 14 percent after the energy generator and retailer said it had ditched plans for now to invest in geothermal schemes offshore and will increase returns to shareholders, including a special dividend. Contact announced a 50 cents per share fully imputed special dividend, payable June 23, and a new ordinary dividend payout ratio of 100 percent of underlying earnings after tax. It also flagged the prospect of share buybacks if free cash flow allows larger distr...

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