close
MENU
Investment
3 mins to read

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

Want to read more? It's easy.

Choose your best value subscription option

Student

Exclusive offer for uni students studying at a New Zealand university (valued at $499).
Individual
Group membership
NBR Marketplace

Yearly Premium Online Subscription

NZ$499.00 / yearly

Monthly Premium Online Subscription

NZ$44.95 / monthly

Smartphone Only Subscription

NZ$24.95 / monthly

Premium Group Membership 10 Users

NZ$350+GST / monthly

$35 per user - Pay by monthly credit card debit

Premium Group Membership 20 Users

NZ$600+GST / monthly

$30 per user - Pay by monthly credit card debit

Premium Group Membership 50 Users

NZ$1250+GST / monthly

$25 per user - Pay by monthly credit card debit

Premium Group Membership 100 Users

NZ$1875+GST / monthly

$18.75 per user - Pay by monthly credit card debit

Yearly Premium Online Subscription + NBR Marketplace

NZ$499.00 / yearly

Already have an account? Login
Hamish McNicol Thu, 23 May 2024
Contact the Writer: Hmcnicol@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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.
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Questions raised about My Food Bag’s return to dividends
Investment,
104192
true