Channel Infrastructure NZ climbs to six-year high on upgraded dividend outlook

Channel Infrastructure NZ

23/05/2025 02:22

** Shares of Channel Infrastructure NZ CHI.NZ rise as much as 3% to NZ$2.08, their highest levels since August 14, 2019

** The fuel transporter revises its FY25 dividend policy, increases policy payout ratio to 70%-90% from 60%-70% of normalised free cash flow

** Co also expects to pay FY25 dividends of between 12 New Zealand cents to 12.5 NZ apiece, which is higher than 11 NZ cents paid out a year ago

** Will consider a potential foreign-exempt dual-listing on the Australian bourse should growth opportunities arise

** YTD, shares up 11.2%

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com;))