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New Zealand government expects special dividend from Kiwibank stake sale

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New Zealand government expects special dividend from Kiwibank stake sale

New Zealand's government expects to gain a special dividendof about NZ$300 million to NZ$350 million from a of a stake, NZ Herald reported April 7, citingFinance Minister Bill English.

New Zealand Superannuation Fund and Accident CompensationCorp. has made indicative offers to buy a combined 45% stake in the parentcompany of the bank.

As of April 6, US$1was equivalent to NZ$1.47.