Rangatira Investments
Rangatira increases final dividend to 41 cents per share
Rangatira today announced an increase to its final dividend to 41 cents per share, up from 36 cents per share last year. This brings the total dividend for the year to 65 cents per share up from 60 cents per share last year and equal to 4% of Net Asset Value.
This is on the back of the 13.4% Total Shareholder Return for the year ended 31 March 2022, announced in May. The return for the year exceeded both Rangatira’s benchmark return of 7.1% and the NZX50 of -3.6%.
The Net Asset Value (NAV) per share as of 31 March 2022 is assessed at $16.27 compared with $14.87 last year, taking the portfolio valuation to $288 million. This is up from $263 million at the end of the previous financial year, and after dividend payments of $10.6 million.
Rangatira’s annual result for the financial year ending 31 March 2022 will report net profit after tax of $9.1m, slightly down on $9.9m last year. While most of the portfolio companies performed to plan some were impacted by both border closures and domestic lockdowns through the year.
Chief Executive Mark Dossor said, “This is a strong result and with the recent investments we believe that the Rangatira portfolio is well placed to navigate what is likely to be a changing and uncertain economic environment in the near term”.
The dividend will be paid on Monday 4 July 2022 and Rangatira shares will trade ex-dividend on 23 June 2022.
For further information, please contact:
Mark Dossor M: 021 885 403
Chief Executive E: mark.dossor@rangatira.co.nz