Media firm NZME hits record high on proposed $21 mln share buyback
16/11/2021 01:35
** New Zealand's media and entertainment firm NZME Ltd
NZM.NZ rises as much as 6.6% to its record high of NZ$1.30
** Co announces https://www.nzx.com/announcements/382888
intention to undertake on-market share buyback of up to NZ$30
mln ($21.14 mln) to start in early 2022
** NZM has a free float of 197.6 mln shares, as of Nov 16 -
Refinitiv Eikon data
** NZM has a dividend yield of 5.29%
** Stock marks its biggest intraday pct gain since Aug 23
** About 286,000 shares change hands, vs the 30-day average
of 179,000 shares
** NZM stock up 74.3% this year, as of last close
($1 = 1.4190 New Zealand dollars)
(Reporting by Sameer Manekar in Bengaluru)
((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar;))