Bancorp Wealth Management New Zealand Ltd.
Bancorp Wealth Management New Zealand announces final year-end dividend 2013/2014
Bancorp Wealth Management New Zealand Limited / Key word(s): Dividend Bancorp Wealth Management New Zealand announces final year-end dividend 2013/2014 – Bancorp raises final year-end dividend 2013/2014 by 11.1 percent up to 5.0 cents (2012/2013 NZD 4.5 cents) – Bancorp continues to focus on its core business of global aviation – Positive outlook for 2015 Auckland, New Zealand, 29 August 2014 – The Board of Directors of Bancorp Wealth Management New Zealand Limited (Bancorp), an international holding company specialising in the aviation insurance brokering business, has announced the final year-end dividend 2013/2014 of NZD 5.0 cents per share (2012/2013 NZD 4.5 cps). The dividend is an increase on last year and is an indication that the directors believe the business is on track to continue sustainable growth as well as being able to continue making annual distributions to shareholders. Craig Brownie, Managing Director stated: “The business has performed well overall and will achieve a year end attributable net profit very similar to last year and within the guidance given to the market during the year”. The company continues to focus on its core business of global aviation and increased its shareholding in Boston Marks Insurance Brokers during the year to just under 50%. Bancorp recently sold its Auckland Airbus transport business realizing significant cash reserves which it intends to invest in the continued growth of Boston Marks and to support Boston Marks’ acquisition strategy. The outlook for 2015 is positive and will be a year of continued focus on aviation insurance broking. Craig Brownie stated, that the company would be looking to obtain at least the same result as 2014 with growth dependent on completing acquisitions in Boston Marks as well as global aviation premiums lifting. A final dividend of NZD 5.0 cents per share will be paid on Friday 5 September 2014 to all shareholders on the register as at 5pm on Friday 29 August 2014. Bancorp intends to continue its shareholder-friendly dividend policy. About us 29.08.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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