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


Aotearoa Fisheries Limited announces dividend for Iwi

Aotearoa Fisheries Limited announces dividend for Iwi

Aotearoa Fisheries Limited, one of New Zealand’s largest fishing companies, posted an annual profit of $17.1 million for the year ended 30 September 2012.

CEO Carl Carrington commented that while it was pleasing that the Aotearoa Fisheries operating divisions performed to expectations, despite the high value of the New Zealand dollar, consolidated profit is down $5.7m on last year. This is the result of reduced profit contribution from Sealord, because of a $10 million write-down relating to South American operations.

Chairman, Whaimutu Dewes says that “despite the reduced consolidated earnings, cash flows were consistent with the prior year and debt has reduced by $13 million”

Aotearoa Fisheries has declared a dividend for the year of $6.8 million, or $54 per share.

The Company has also announced a special taxable bonus share issue, where $141 million of new shares will be issued to shareholders in proportion to their existing shareholding.

Aotearoa Fisheries is making the bonus share issue to unlock tax credits of $30 million available within the Group, which also encompasses Sealord Group Limited. By making the bonus share issue, Aotearoa Fisheries is able to turn those tax credits into real cash benefits for shareholders.

Aotearoa Fisheries is owned through its 57 Iwi shareholders and manages commercial seafood assets of some $500 million on behalf of all Māori, including inshore fishing businesses Moana Pacific and OPC, paua exporter Prepared Foods and leading oyster producers Kia Ora Seafoods and Pacific Marine Farms. It also holds a 50 per cent share in Sealord Group Limited with assets of $762 million.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Westpac NZ: Warns About Sophisticated New Scam
Westpac NZ is warning New Zealanders about a sophisticated new scam that involves a fake Westpac investment prospectus.
The prospectus is formatted to resemble a Westpac document and includes professional-looking imagery... More>>

Campaign For NZ Coastal Tankers : Says Fuel Security At Risk

Three unions representing New Zealand shipping crews are mounting a united campaign to protect New Zealand’s fuel security and save New Zealand coastal tankers... More>>

Tourism: Travel Bubble With Cook Islands Resumes

Cook Islands tourism restarts today, ending a five-month border closure due to COVID-19. Graeme West, General Manager Australasia for Cook Islands Tourism Corporation, said today’s first flight of quarantine-free travel from New Zealand to the Cook Islands is very significant... More>>

Insurance Council of New Zealand: September South Island Windstorm Cost $36.5 M Raises 2021 Extreme Weather Claims Total To $321.6 M

Gale force winds and storms between 9 and 13 September 2021 resulted in insurers supporting communities to the tune of $36.5 m. This is a significant rise, of $16.7 m, on preliminary figures for the event and lifts the end of year total for all extreme weather events in 2021 to $321.6 m... More>>

Statistics: Building Consents Hit New Highs In November
There were a record 48,522 new homes consented in the year ended November 2021, Stats NZ said today. This was up 26 percent compared with the year ended November 2020... More>>

Fonterra: Revises Milk Collection Forecast
Fonterra Co-operative Group Limited today revised the forecast for its 2021/22 New Zealand milk collections to 1,500 million kilograms of milk solids (kgMS), down from its opening forecast of 1,525 million kgMS... More>>