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


Auckland Airport shareholders vote for capital return

Auckland Airport shareholders overwhelmingly vote in favour of capital return

Feb. 12 (BusinessDesk) – Shareholders of Auckland International Airport, the nation’s busiest gateway, have overwhelmingly voted in favour of plans by the nation’s busiest gateway to return $454 million in capital via a share cancellation, with 60 percent of the payment treated as a taxable dividend.

Results from the special meeting in Auckland today show 99.3 percent of eligible votes cast were in favour of the plan. The airport company will now seek High Court approval for the capital return, it said.

Under the proposed scheme of arrangement, the company will cancel one in 10 shares at $3.43 apiece. The airport said 40 percent of the payment will be a capital return for tax purposes and the balance treated as a dividend, fully imputed at 28 percent tax rate.

Shares of Auckland Airport fell 0.6 percent to $3.64, and have climbed 28 percent in the past 12 months.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade & Retail: Chinese Disaster Spells Quiet Season For NZ Fireworks Sales

In August, two massive explosions at a warehouse at the port in the port of Tianjin, Northern China, killing more than a hundred people and devastating large areas of the city. In the wake of the disaster, Chinese authorities rushed to regulate the distribution of all dangerous goods... More>>



Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news