SkyCity shares punished on dividend suspension
Stock falls as much as 22% after casino operator cans dividends until 2026 and cuts profit outlook.
SkyCity dividends were suspended in light of weaker earnings in 2025.
Shares in SkyCity plummeted more than 20% after the casino operator announced a suspension of dividends and a profit warning this morning.
In the first 90 minutes of trading SkyCity shares were down 22% to $1.35 on turnover of $2.5 million, wiping $289m off the company’s market capitalisation,
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