I have with VCT since they took over Natural Gas (which I was a shareholder.) They increase their dividend payout consistently every year and they more than 50% of their shares are Empower controlled. Good retirement shares to have
While no doubt it qualified for the subsidy given this part of the business couldn’t trade during Level 4 lockdown, its great to see a large corporate building its social licence through taking the bad with the good when it comes to operating its business and not seeking a Government handout that every New Zealander needs to fund.
I’m assuming the $1.6m quoted is the gross amount, so after tax the net amount that they would have received was $1.15m.
24/8/2021, 8:30 amFLLYR• Adjusted EBITDA of $513.5 million, up $23.5 million or 4.8% on last year.
• Group net profit after tax of $194.6 million, up $97.3 million from the prior year.
• Final dividend 8.50c, taking full year dividend to 16.75 cents per share; imputation at 10.5%
• Electricity network quality performance within regulatory SAIDI limits for regulatory year to 31 March 2021
• $529.5 million in gross capital expenditure, an increase of $40.8 million or 8.3%
• First product from AWS strategic alliance delivered, progress advances towards second
AFR Street Talk is reporting that Citi and Barenjoey have launched a process for the sale of a 50% stake in VCT’s smart meter business in Australia and New Zealand. AFR speculates that the enterprise value of the business could be NZ$3 billion. The business generates an EBITDA of NZ$172m.
Evidently VCT is seeking a partner to introduce funds into the venture to bankroll future growth.
A range of potential purchasers is mentioned including Morrison & Co.
Bookmarks