NZ's Briscoe hits record high on special dividend plans, upbeat sales outlook

Briscoe

10/12/2020 23:43

** Shares of retail chain Briscoe  BGP.NZ  rise as much as
6.55% to hit a record high of NZ$4.88
    ** The Auckland-based firm announces special fully imputed
dividend of 6.0 NZ cents per share (http://bitly.ws/aMtV)
    ** Says "cash position is very strong as a result of the
previously cancelled $28 million dividend back in March"
    ** In March, BGP canceled final dividend of 12.5 NZ cents
per share, amid uncertainties causes by the coronavirus pandemic
 urn:newsml:reuters.com:*:nASX49sH8h
    ** Adds that it saw record sales on Black Friday promotions;
expects trading momentum to continue during festival season and
through to year-end on Jan 31
    ** Stock posts its biggest intraday pct gain since April 8
    ** More than 44,000 shares change hands, vs the 30-day
average volume of over 27,800 shares
    ** Stock up 18% this year, as of last close
    
    ($1 = 1.4090 New Zealand dollars)


 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))