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NZX raises final dividend for 2017

NZX Ltd. raised its final dividend for the fiscal year ended Dec. 31, 2017, to 3.10 New Zealand cents per share, from the prior-year dividend of 3 cents per share.

The final dividend brings the company's total dividend for 2017 to 6.1 cents per share, up from the prior-year total dividend of 6 cents per share. The dividend will be paid March 23 to shareholders of record as of March 9.

NZX also said it is introducing a new dividend policy that will come into effect beginning in the 2018 fiscal year. The new policy will pay between 80% to 110% of adjusted net profit after tax, as compared to a payout ratio of 80% of free cash flow under the current dividend policy.

As of Feb. 16, US$1 was equivalent to NZ$1.35.