‘Perfect storm’ drives Meridian into the red
Gentailer maintains dividend despite cashflows at 15-year low.
Meridian's Benmore dam on the Waitaki hydro system.
Electricity generator and retailer Meridian is taking on more debt to pay dividends after a “perfect storm” drove it $452 million into the red.
In results announced to the NZX this morning, Meridian said its cash flows were the lowest since 2009.
“We weathered a perfect storm,” said chief
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