Vector raises interim dividend despite 1H earnings drop

Thu, 20 Feb 2014

By Pattrick Smellie Feb. 21 (BusinessDesk) – Auckland electricity, gas and telecommunications network owner Vector saw net profit after tax fall 11.4 percent to $104.6 million in the six months to Dec. 31, reflecting the impact of price cuts ordered by the Commerce Commission and reduced gas sales. However, directors raised the interim dividend by 0.25 cents to 7.5 cents per share, fully imputed, saying the New Zealand economy was “showing signs of a good recovery and in this environment Vector should continue to prosper.” For the full year...

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