Higher wine dividend for shareholders

The NZ Wine Co is rewarding shareholders with a higher dividend after announcing a 22.9 per cent rise in its full-year profits.

The company, which makes and markets wine, said its after-tax surplus for the June year was $908,000, up from $739,000 a year earlier as it benefited from a bigger harvest.

The final dividend has been raised from 4c to a fully imputed 5c a share. Of the 2004 dividend, 3c was imputed.

Chairman Mark Peters said the return to profit growth was the highlight of the past financial year.