Christchurch Airport approves total dividend of USD27.7m for FY2017

    Christchurch Airport approved (05-Sep-2017) total dividends of NZD38.3 million (USD27.7 million) for FY2017, which includes the regulated 90% of net profit after tax of NZD34.8 million (USD25.2 million), plus a special one-off dividend of NZD3.5 million (USD2.5 million) “to reflect the strong performance of the company”, stated outgoing chairman David Mackenzie. This equates to NZD0.66 (USD0.47) per share, a 22% year-on-year increase. Shareholder value since 2008 increased to NZD500 million (USD362 million), producing a total annualised return of 13.4% p/a. Mr Mackenzie stated the company’s property portfolio provided “excellent rental returns” on investments. [more – original PR]