About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds
 
Support our sponsors:
sharemarket

Higher dividend likely from Horizon

By Phil Boeyen, ShareChat Business News Editor

Friday 1st September 2000

Text too small?
Electricity lines company, Horizon Energy, is looking to increase its dividend payout.

Horizon, which was formerly Bay of Plenty Electricity, says its dividend policy has been to pay between 50 and 70% of after tax net profit as dividends.

The company says during the current year the board will review this policy, bearing in mind the very predictable revenue stream of a line company and the unlikely need to accumulate cash reserves or gearing potential for expansion.

However it says it is unlikely a decision to increase the dividend policy will be taken before the stability of a joint venture with Eastland has been established.

The company says the current year's results will be impacted by some setup and restructuring costs for the joint venture but the company is forecasting a net profit after tax of at least $4 million.



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.
Bookmark and Share   Printable version
Related News

Horizon Energy acquires 3 businesses for $5.25 million
Horizon Energy blames takeover costs for profit downgrade
Marlborough Lines seeks to lift Horizon stake
Marlborough Lines close to 10% target in Horizon
New twist in Horizon takeover saga as panel investigates directors
Eastern Bay Energy Trust seeks court ruling on deed, halts Horizon takeover
Full takeover bid for Horizon as interest mounts
Horizon Energy shareholders advised to reject takeover offer
Marlborough Lines makes bid for control of Horizon at 34% premium
Two listed lines companies make the grade

 
Previous News
Bond
News Alerts
Breaking News 
After the Bell (daily) 
Gold News 

Unsubscribe/Update »

RSS feeds »
Twitter »
Facebook »

Most Commented On
  forex centre
cfd centre
options centre
NZX 15 Index

© Copyright 2014 MoneyOnline Ltd & Investment Research Group Ltd. All Rights Reserved.