Blue Chip announces first dividend
Wednesday 24 November 2004
Blue Chip NZ Ltd’s first dividend as a listed company will be a fully imputed net 1.8c/share cash for the June half, payable 20 December.
By The LandlordManaging director Mark Bryers said although most shareholders were owners of Blue Chip shares for only a very short part of that half-year, “the directors nonetheless believed the company should begin as it means to continue as a listed company, by involving all shareholders in the company's success.”
With a pro forma after-tax profit of $1.895 million for the 6 months, the dividend represents a payout ratio of about 50% of after-tax profits.
Read More - Opens in a new window
Commenting is closed
The Government announced its long awaited tenancy law reforms today and they mean that landlords will no longer be able to get rid of tenants without reason.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.