UPDATED: Fletcher shares drop on reduced FY guidance, lack of franking credits

Tue, 17 Feb 2015

(Recasts to focus on shares, guidance, adds investor comment) Feb. 18 (BusinessDesk) - Fletcher Building shares dropped 4.5 percent after the construction and building products company posted a 26 percent drop in first-half profit, omitted franking credits on dividend payments to Australian investors and said full-year earnings would be at the lower end of guidance. The second-largest firm on the NZX 50 Index declared a first-half dividend of 18 cents a share, unchanged from a year earlier except for the lack of Australian franking credit...

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