Warehouse changes dividend payout to help fund new financial services arm

Fri, 20 Nov 2015

By Fiona Rotherham Nov. 20 (BusinessDesk) - Warehouse Group, the country’s largest listed retailer, has changed its dividend policy to allow eventual profits from its new financial services group to be ploughed back into building up its lending book. The dividend policy has been to pay out between 75 percent and 85 percent of adjusted net profit after tax and that’s now been modified to apply only to the retail group, excluding financial services, shareholders were told at today’s annual meeting in Auckland. Chairman Ted van Arkel said...

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