Kiwibank sets dividend rate for shares

Kiwibank's $150 million preference share issue is set to pay investors an initial dividend of 8.15%.

The shares, issed by a related company called Kiwi Capital Securities, closed fully subscribed at the end of last week.

The dividend payments will be made up of a cash payment and, to the extent available, imputation credits attached to the cash payment.  The cash payment will be a proportion of the dividend rate.

The money raised will be used to provide tier 1 capital to Kiwibank.

ANZ National Bank acted as Arranger for the offer.  The Joint Lead Managers for the offer were ANZ National Bank Limited and Kiwibank Limited and the Co-Managers were Craigs Investment Partners Limited and Forsyth Barr Limited.

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:

CHATHAM ROCK CLOSES PRIVATE PLACEMENT
December 29th Morning Report
December 24th Morning Report
Spark NZ announces new receivables financing structure
December 22nd Morning Report
TRU - Commercial Opportunities for Western Europe and Middle East
GEN - General Capital Subsidiary Credit Rating Update
Fonterra updates 2025/26 season Farmgate Milk Price
FRW - Acquisition of VT Freight Express
PaySauce Opens $1m Share Purchase Plan