Contact stages an about-face to return $367m to shareholders

Contact Energy shares surge on news of special dividend.
 
Jenny Ruth talks about Contact Energy on NBR Radio and on demand on MyNBR Radio.

Jenny Ruth
Mon, 25 May 2015

Contact Energy [NZX: CEN] shares jumped as much as 15% after the company staged a complete about-face, saying it can’t find any suitable investments and that it will return $367 million to shareholders.

That will be by way of a special, fully-franked dividend of 50 cents per share.

The

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