Z signals bigger dividends with new policy, affirms earnings guidance

Wed, 27 Sep 2017

By Paul McBeth Sept. 28 (BusinessDesk) - Z Energy anticipates paying bigger dividends to shareholders under a new policy, which will see it slow down an accelerated pace of debt repayments at the end of the financial year and fund new capital purchases by selling other assets. The Wellington-based company had been targeting 10 percent annual growth in dividends per share as it repaid $705 million of bank debt taken on to fund the acquisition of the Chevron New Zealand assets, tweaking an earlier policy of paying dividends of 80 percent o...

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