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The latest announcement is out from City Developments ( (SG:C09) ).
Millennium & Copthorne Hotels New Zealand Limited announced that due to the conditions of a takeover offer from CDL Hotels Holdings New Zealand Limited, it will not declare a final dividend for its 2024 financial year. The company’s board made this decision after CDLHH NZ refused to waive the condition restricting dividend payments, impacting MCK’s usual practice of declaring dividends as part of its annual financial results.
More about City Developments
Millennium & Copthorne Hotels New Zealand Limited (NZX: MCK) is a prominent hotel owner-operator in New Zealand with 19 hotels under various brands such as Millennium, Grand Millennium, M Social, Copthorne, and Kingsgate. As part of a global network with over 120 properties, MCK also holds property interests in Australia and is the majority shareholder in land developer CDL Investments New Zealand Limited.
YTD Price Performance: 0.13%
Average Trading Volume: 100
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.43B
Find detailed analytics on C09 stock on TipRanks’ Stock Analysis page.
