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Home / Business / Companies / Media and marketing

NZME on track to return dividend in 2021 after tough cost-cutting measures

Duncan Bridgeman
By Duncan Bridgeman
NZME Business Managing Editor·NZ Herald·
25 Aug, 2020 05:50 AM4 mins to read

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NZME's board could consider this time next year returning to a dividend.

NZME's board could consider this time next year returning to a dividend.

NZ Herald-owner NZME could be in a position to consider returning dividends to shareholders this time next year on the back of steep cost reductions and prudent debt management.

Chief executive Michael Boggs noted this in his outlook for a business fighting hard against falling advertising revenues affected by the impact of Covid-19.

The market took notice, driving the share price over 40 per cent higher at one stage today following the company's half year result release this morning. The stock was up 13c or 44.8 per cent to 42c at 3.30pm before the stock exchange suffered an outage.

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