NZ Oil & Gas will return $63.2M of excess cash to shareholders next month

New Zealand Oil & Gas, the listed energy explorer, will return $63.2 million of excess cash to shareholders after gaining final High Court orders allowing it to proceed with the plan.

The Wellington based company will effectively return 15 cents a share by cancelling one in every five ordinary shares and paying 75 cents per cancelled share, it said in statement. The payment will be made within five business days of the Feb. 13 date for determining shareholder entitlement, it said.

NZ Oil & Gas detailed its capital return plans in November, saying its cash on hand was more than it needs to grow its business.

Shares of NZ Oil & Gas advanced 0.8 percent to 62.5 cents, and have dropped 21 percent the past year.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

AIA - Analyst and media webcast for FY26 interim results
The Warehouse Group confirms leaner operating structure
SML - Synlait provides half year performance update
RYM - Refreshed strategy and new capital management framework
ENS - Clarification of Gina Tuzcet’s status
BGP - 4th Quarter Sales to 25 January 2026
Contact Energy 2026 Half Year Results Presentation
February 2nd Morning Report
VHP - Half year results announcement date and webcast details
Devon Funds Morning Note - 30 January 2026