Chorus Ltd (ASX: CNU) Share Price and News
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Chorus Ltd (CNU) is New Zealand’s largest telecommunications infrastructure company, building and managing an open-access internet network and rolling out ultra-fast broadband.
An open-access network means that phone and broadband providers can access Chorus’ network to offer products and services to their customers. The company’s network consists of around 280,000 poles, 11,000 cabinets and more than 1.5 million broadband connections. Chorus is also responsible for providing the majority of New Zealand’s new fibre optic ultra-fast broadband network, a government initiative similar to Australia’s NBN.
Chorus’ history traces all the way back to the establishment of the New Zealand Post Telegraph Department in 1881. The post office was replaced by 3 state-owned enterprises in 1987, one of which was Telecom NZ. After undergoing privatisation and publicly listing in the early 1990s, Telecom separated into two distinct companies in 2011: Chorus, a wholesale operator, and Spark New Zealand Ltd (ASX: SPK), a retailer. Today, Chorus shares are dual-listed on both the ASX and NZX.
Chorus Ltd (ASX: CNU) Latest News
James Mickleboro | July 10, 2020 12:11pm
Afterpay Ltd (ASX:APT) and Treasury Wine Estates Ltd (ASX:TWE) shares are making moves on the ASX 200 on Friday. Here's what you need to... More »
James Mickleboro | July 10, 2020 11:50am
AVITA Therapeutics Inc (ASX:AVH) and Chorus Ltd (ASX:CNU) shares are two of four dropping lower on Friday. Here's why... More »
Brendon Lau | July 3, 2020 4:19pm
The S&P/ASX 200 Index (Index:^AXJO) running out of puff but these ASX shares may face more pressure as brokers downgraded them today. More »
James Mickleboro | April 11, 2020 9:16am
Fisher & Paykel Healthcare Corp Ltd (ASX:FPH) and NEXTDC Ltd (ASX:NXT) were among the worst performers on the ASX 200 last week... More »
Phil Harpur | March 27, 2020 10:31am
The Chorus Ltd (ASX: CNU) share price is climbing higher today after the telco provided a market update in light of the unfolding coronavirus crisis. More »
Sebastian Bowen | March 9, 2020 8:33am
How do ASX shares look this week? This Foolish ASX 200 weekly wrap gives you all you need to know! More »
James Mickleboro | March 7, 2020 11:11am
Saracen Mineral Holdings Limited (ASX:SAR) and TPG Telecom Ltd (ASX:TPM) were amongst the best performers on the ASX 200 last week... More »
James Mickleboro | March 5, 2020 3:57pm
NEXTDC Ltd (ASX:NXT) and these ASX shares have just hit 52-week highs or better. Here's why they are flying high right now... More »
Phil Harpur | March 4, 2020 4:26pm
With the share market dropping lower again today, here are two ASX 200 shares that are seeing particularly strong gains. More »
Will Chorus pay a dividend in 2020?
Chorus paid an unfranked interim dividend of 9.76 cents per share on 14 April 2020. The company anticipates paying dividends totalling 24 cents per share for FY20, with the final dividend due to be paid in October. This is, however, subject to any material changes in Chrorus’ circumstances or outlook. The company has advised that from FY22, it anticipates transitioning to a dividend policy based on a pay-out range of free cash flow that reflects robust management of capital expenditure and that will provide shareholders with dividend predictability, stability and sustainable growth.
Does Chorus offer a DRP?
Yes. Chorus offers Australian and New Zealand shareholders the option of either full or partial participation in the dividend reinvestment plan. There is no minimum shareholding required to participate. Shares are issued under the DRP based on the volume weighted average sale price of the shares sold over five business days commencing on the ‘ex date’. At present, no discount is offered over and above this price. The company has advised it will continue to review the availability of the DRP at each financial result.