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Questions raised about My Food Bag’s return to dividends

Listed food delivery company’s shares up more than 25% following full-year results announcement.

My Food Bag chair Tony Carter and chief executive Mark Winter.

Key points
  • Revenue: Down 8% to $162.2 million in the year ended March 31, 2024.
  • Net profit after tax: Down 24% to $6m.
  • Key takeaway: The company will pay out a 0.5 cent a share dividend, even with net debt still at $11.8m.

Listed food delivery company My Food Bag has delivered on its promise to resume dividend payments this financial year, although the business has been quizzed on its decision to do so given the company’s debt levels.

Regardless, the company has enjoyed its best day on the NZX for months, with the

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Key points
  • Revenue: Down 8% to $162.2 million in the year ended March 31, 2024.
  • Net profit after tax: Down 24% to $6m.
  • Key takeaway: The company will pay out a 0.5 cent a share dividend, even with net debt still at $11.8m.
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Questions raised about My Food Bag’s return to dividends
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