Sharechat Logo

Dividends boost fund

Friday 22nd September 2000

Text too small?

Dividends from Ports of Auckland and Northern Disposal Systems (NDS) have boosted Infrastructure Auckland's war chest to $815 million but grant applications have been delayed.

Chairman John Robertson said only $4.9 million of grants were approved last year. He expected a far greater level this year as there was a long pipeline of applications from local authorities.

The pre-tax surplus was $60.6 million, swelled by a $15.9 million dividend from Ports of Auckland, $12.2 million from NDS and net investment income of $16.4 million.

The major investment holdings were equities, which fell in value to $488 million from $599 million a year ago, and cash and fixed interest instruments, which rose from $271 million to $321 million.

The equity investments are 80% of Ports of Auckland and 100% of NDS and Americas Cup Village Ltd.

  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:

MARKET CLOSE: Blue-chip stocks Meridian, A2 lead market lower
NZ dollar rises on Brexit hopes, rate cut reassessment
Three not failing, just needs a new owner - MediaWorks CEO
Major investors back new CBL class action targeting directors
Rip Curl purchase a done deal on Kathmandu proxies alone
Comvita chair Neil Craig eyes the exit once he finds a new CEO
Mercury raises guidance on increased storage, high spot prices
Eroad reports strong 3Q sales growth, eyes ASX listing
MediaWorks puts TV business on the block
NZ dollar benefits as preliminary Brexit deal improves risk appetite

IRG See IRG research reports