Rangatira Investments maintained its dividend in the face of weaker earnings following the sale of smallgoods maker Hellers.
The Wellington-based investment firm will pay an unchanged dividend of 36 cents per share on June 21. That takes the annual return to 60 cents, or $10.6 million.
Rangatira sold its Hellers business in January for an undisclosed sum, which chair David Pilkington said left the firm in a strong enough financial position to maintain the dividend.
Rangatira is sitting on $75m in cash to invest and valued its assets at $255m as at March 31.
"While currently opportunities are not plentiful and price expectations are higher than in the past, Rangatira's key point of difference to other investors is our reputation and flexible long-term holding period," chief executive Mark Dossor said in a statement.