New Zealand's 2 Cheap Cars jumps on strong annual profit, dividend payout

2 Cheap Cars

24/05/2024 24:14

** Shares of New Zealand's 2 Cheap Cars Group  2CC.NZ  rise
as much as 12.5% to NZ$0.900, highest since Nov. 15, last year
    ** Stock posts biggest intraday percentage gain since Nov.
15
    ** Used-car dealership posts FY24 profit of NZ$6.2 mln
($3.78 mln), up from NZ$1.3 mln ($0.8 mln) a year ago
    ** Company declares final gross dividend of 5.78 NZ
cents/shr, compared to no dividend last year
    ** About 36,000 shares change hands, compared with 30-day
average volume of around 19,000 shares
    ** Stock down 2.4% YTD, based on last close
    
($1 = 1.6399 New Zealand dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))