Upper year for Downer, with fourfold hike in NZ dividend
The New Zealand arm of giant Australian civils contractor Downer EDI boosted earnings on the back of construction gains, while slashing subcontractor costs.
Downer New Zealand's holding entity DGL Investments paid a $43 million dividend to its Australian parent after more than doubling its after-tax profits to $85.7m for the June year.
The stipend, reflecting a $30m payment to ordinary shareholders and $13.58m to holders of redeemable distributing
