Dene Mackenzie

$367m back to Contact shareholders

$367m back to Contact shareholders

Contact Energy's 70,000 shareholders will today receive a 50c-per-share special dividend returning $367 million to shareholders, including majority owner Australian-listed Origin Energy.

Directors' body initiatives taking effect

Directors' body initiatives taking effect

The Institute of Directors was in good shape and the work done in the past few years would continue into the future, retiring president Stuart McLauchlan said.

Slower quarter growth forecast

Economic growth is expected to slip slightly to 3.1% annually in March following a slowing of growth in the March quarter.

Muted power returns to lift

All of the listed electricity companies were offering reasonable dividend years and while the earnings outlook for the sector as a whole was muted, Forsyth Barr broker Andrew Rooney expected dividend payments to lift.

Dollar forecasts downgraded in response to cut in OCR

Currency specialists are busily downgrading their forecasts for the New Zealand dollar after the Reserve Bank on Thursday surprised the market by cutting the official cash rate to 3.25%.

Wynyard increasing US focus

Security company Wynyard was operating in two of the hottest technology spaces of security and big data and had already moved to a strategy of increasing its focus on the United States, Forsyth Barr broker Andrew Rooney said.

Cold not giving apparel retailers warm fuzzies

Temperatures across the country were colder in May than in the same month last year, particularly in Auckland, but they proved of little help to apparel retailers, Forsyth Barr broker Suzanne Kinnaird said.

Banks quick to drop floating rates

Banks quick to drop floating rates

Retail banks slashed mortgage rates yesterday as the strength of the Auckland property market continued to cause concern.

Dairy prices key to OCR cut timing

The three GlobalDairyTrade auctions between now and the July official cash rate review by the Reserve Bank will play a major part in deciding when the next cut in the OCR will happen, economists say.

Economists divided equally on OCR cut

Prices in the ANZ Monthly Inflation Gauge fell 0.1% in May following a 0.2% fall in April, the first time there had been two consecutive falls.