Fletcher Building amends banking covenants to Dec 2024 for financial flexibility, potentially limiting dividends.
Fletcher Building, a NZ construction firm, has agreed with its lenders to amend banking covenants until Dec 2024, providing financial breathing room during challenging times. However, this move could restrict dividends, limiting profit distribution to shareholders. Acting CEO Nick Traber stated that these steps were taken to enhance the company's resilience and navigate difficult trading conditions.
June 04, 2024
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