Sky Network Television, whose long-standing cornerstone shareholder Todd Communications exited this month, will pay a $124.5 million special dividend to shareholders to share its tax credits with investors.
The Auckland-based company will make a special dividend of 32c per share with a record date on December 13 and payment on December 19, it said in a statement.
Last year Sky TV paid a special dividend of 25c per share.
The payment was being made after the company was left with $44 million in tax credits having settled its tax bill of $16 million on Wednesday, said spokeswoman Kirsty Way.
Shares in the company closed up 15c yesterday at $5.23.
The stock is rated an average 'hold' based on 10 analyst recommendations compiled by Reuters with a median target price of $5.30.
Sky TV made a profit of $123.7 million, or 31.78c per share, in the 12 months ended June 30, and paid a dividend of 22c in the 2012 financial year.