NZ's Metro Performance Glass climbs on posting profit, intention to pay dividend

Metro Performance Glass

21/05/2021 01:06

** Shares of Metro Performance Glass Ltd  MPG.NZ  rise as
much as 2.6% to NZ$0.400, their biggest intraday percentage gain
since May 14
    ** Glass supplier posts statutory net profit after tax of
NZ$8.5 mln ($6.12 mln), compared to loss of NZ$78.9 mln in the
previous year  urn:newsml:reuters.com:*:nFWN2N70X0
    ** Co says it's expecting to be below communicated target of
a net debt to EBITDA ratio of 1.5x in H1 of FY22
    ** MPG says it intends to resume dividend payments alongside
FY22 interim results
    ** Co expects to pay fully imputed dividends between 50% &
70% of NPAT before significant items
    ** Stock has fallen 4.9% this year as of last close
    



($1 = 1.3895 New Zealand dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))