UPDATE: Kiwibank comes of age, set to pay first annual dividend in 2015

Fri, 28 Aug 2015

(Adds chief executive comment from media briefing) By Tina Morrison Aug. 28 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, will pay its first annual dividend after 13 years of operation, reflecting its increased size, record profits and its ability to fund its own activities. Wellington-based Kiwibank increased profit 27 percent to $127 million in the year ended June 30, it said in a statement. Revenue gained 17 percent to $560 million while expenses rose 13 percent to $384 million. Launched in 2002, Ki...

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