UPDATE: Tower shares gain on souped-up dividend, 1H underlying earnings rise

Tue, 26 May 2015

(Updated and recast with broker, CEO comment, share price) By Paul McBeth May 26 (BusinessDesk) - Tower shares rose to a month-high after the general insurer hiked its interim dividend and confirmed an on-market share buyback after lifting first-half earnings 36 percent on rising premiums and fewer claims. The stock jumped as high as $2.22 and was recently up 4.3 percent at $2.20 after the Auckland-based insurer reported underlying profit of $17.9 million in the six months ended March 31 from $13.1 million a year earlier. Gross written...

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