Sharechat Logo

Green Cross declares 15 cent special dividend after reviewing capital structure

Tuesday 28th July 2015

Text too small?

Green Cross Health, formerly known as PharmacyBrands, will return $20.3 million to shareholders through a special dividend after reviewing its capital structure.

The Auckland based company will pay 15 cents per share on Aug. 21 to shareholders registered at the close of trading on Aug. 7, after the board reviewed its capital and debt structure, Green Cross said in a statement. The primary health and pharmacy retailer has largely driven expansion through equity funding, and has settled on a new mix for debt and equity, it said.

The company continues its objective to invest and grow in its business units through both acquisition and organically," Green Cross said. "The new mix of equity and debt provides a platform to pursue this objective whilst enhancing returns to shareholders."

The company made the announcement to the stock exchange while hosting its annual meeting in Auckland.

Earlier this year, Green Cross reported a 4.1 percent decline in annual profit to $14.4 million, while lifting sales 25 percent to $322.4 million.

The shares were unchanged at $2.14, and are up 0.9 percent this year, valuing the company at $289.6 million.

Green Cross's dividend reinvestment plan won't operate in respect of the special dividend, but will for future payments, it said.

 

 

 

 

BusinessDesk.co.nz



  General Finance Advertising    

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.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report