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Chorus to resume dividends thanks to copper price hike
2016-02-19 11:31:00| Telecompaper Headlines
(Telecompaper) New Zealand wholesale operator Chorus reported financial results for the six months ended 31 December 2015 down sharply on the prior period because of lower regulated copper prices since December 2014. Net profit fell to NZD 33 million from NZD 64 million for the same period in the prior year, and EBITDA dropped to NZD 275 million from NZD 321 million. Operating revenues totaled NZD 479 million and operating expenses NZD 204 million. The conclusion of the recent copper pricing review, resulting in an increase in wholesale prices, means Chorus can begin paying dividends to shareholders for the first time since late 2013, the company said. For the financial year 2016, Chorus expects to pay a dividend of 20 cents per share. An interim dividend of 8 cents per share will be paid on 5 April.
Tags: price
resume
copper
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Category:Telecommunications