Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Port Nelson announces special dividend

Port Nelson announces special dividend

The Nelson City and Tasman District councils will benefit by $4 million each from a special dividend to shareholders announced today by Port Nelson Limited.

Port Nelson Chairman Nick Patterson said the decision to pay the fully imputed special dividend of $8 million came about after a review of the business environment the port operates in.

“We have looked at our short and medium term plans in response to predicted business conditions, reviewed and updated our financial projections, updated our forecasts and reviewed the balance sheet,” he said. “With this completed we have also reviewed our position in respect of the insurance risk resulting from the Christchurch earthquake and the increased costs and risk exposure it has brought.

“As a result of the review and projections we consider that Port Nelson has the abilityto make available to the shareholders this special dividend, which we see as very timely and which we hope will be well received, given the costs to the councils of remedial works following the recent adverse weather events.”

Ends



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tax Bill Passes, Drops: “An End To Unnecessary Secondary Tax”

“The changes mean Inland Revenue will more closely monitor the tax paid by wage and salary earners through the year. If it appears the worker is being over taxed, Inland Revenue will suggest a more suitable PAYE tax code tailored to that worker.” More>>

ALSO:

Ethiopian Airline Crash: Boeing 737 Max Aircraft Operations Temporarily Suspended

New Zealand’s Civil Aviation Authority has suspended the operation of Boeing 737 MAX aircraft to or from New Zealand. Currently this affects only one operator, Fiji Airways. There are no other airlines that fly this aircraft type to New Zealand. More>>

ALSO:

Sorting Out DNA: Crime-Busting Software Wins Top Science Prize

Software developed in New Zealand that has contributed to identifying suspects in tens of thousands of criminal cases around the world has won the 2018 Prime Minister’s $500,000 Science Prize. More>>

ALSO:

In The High Court: IRD Wins Tax Avoidance Case

Inland Revenue has won a High Court case against Eric Watson’s Cullen Group over a nearly $52 million tax debt. More>>

ALSO:

Insurers Withdraw From Market: Plea For EQC Rethink

A consumer watchdog wants the government to rethink the Earthquake Commission (EQC) as more people are pushed out of getting property and contents insurance. More>>

ALSO:

Women's Day: New Zealand Rated Third Best In OECD For Working Women

New Zealand has been rated among the top countries in the world for working women. The Women in Work Index rated New Zealand third in the OECD and it was the only country outside Europe to make the top 10. More>>

ALSO: