Wrightson posts record earnings, lowers dividend and eyes reinvestment options

Mon, 13 Aug 2018

By Tina Morrison Aug. 14 (BusinessDesk) - PGG Wrightson, which is selling its dominant seed and grain business, posted record full-year earnings but lowered its final dividend payment to shareholders, saying it was eyeing reinvestment opportunities. Operating earnings before interest, tax, depreciation and amortisation rose to a record $70.2 million in the year ended June 30, in line with its forecast for earnings at the top end of its guidance range of $65 million to $70 million, and ahead of $64.5 million a year earlier, the Christchurc...

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