NZX Ltd year profit rises, to return cash and split shares

WELLINGTON: New Zealand stock exchange operator NZX Ltd reported on Monday a 56 percent rise in its annual net profit as
19 Feb, 2012

The company posted a net profit of NZ$14.5 million ($12.2 million) for the 12 months to Dec 31, against a NZ$9.3 million profit a year earlier.

The company, shares in which last traded up seven cents or 2.7 percent at NZ$2.66, declared a dividend of final dividend of 2.75 cents.

Last month NZX said financial services firm Markit would pay $21.4 million by Jan 31 to complete its acquisition of the TZ1 environmental registry, which was sold in 2009.

NZX said it would return between NZ$32.5 million to NZ$35 million to shareholders, through a share cancellation. Afterwards there would be a share split on the basis of seven for three.

NZX's founding chief executive Mark Weldon is leaving the company and will be replaced by Tim Bennett in early May.

Copyright Reuters, 2012

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