By Phil Boeyen, ShareChat Business News Editor
Friday 1st September 2000
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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.
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