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
Ken Hall | August 5, 2019 1:52pm
The Chorus Ltd (ASX: CNU) share price has fallen lower this morning despite credit rating agency Moody's releasing a broadly positive research update on the company. More »
Ken Hall | July 17, 2019 10:46am
The Chorus Ltd (ASX: CNU) share price could see increased trading volume this morning after the company reported growth in broadband connections in its... More »
Brendon Lau | May 14, 2019 3:20pm
There's one thing you can count on if a full-blown trade war erupts - government will step up on infrastructure spending to offset the... More »
Tom Richardson | March 27, 2019 11:00am
This company is set to deliver rising free cashflow and dividends for 5 years. More »
Tom Richardson | March 26, 2019 12:07pm
This fundie is not short of conviction in its stock picks! More »
Yulia Mosaleva | October 29, 2018 3:58pm
The L1 Long Short Fund Ltd (ASX: LSF) has over $1.2 billion of investors’ cash backing it. Today they revealed some of their best... More »
Motley Fool Staff | June 15, 2017 11:30am
NZ Telecom Chorus Ltd (ASX:CNU) share price hit a new 52-week high of $4.51 yesterday afternoon. More »
Christopher Georges | April 12, 2017 2:00pm
The telecommunications sector is dominating the list of losers today. More »
Edward Vesely | December 19, 2016 11:56am
Each of these stocks have relatively high and growing yields. More »
Regan Pearson | August 30, 2016 7:35am
Is Telstra Corporation Ltd (ASX:TLS) or Chorus Ltd (ASX:CNU) a more attractive dividend buy today? More »
Mike King | June 24, 2016 12:45pm
Spark New Zealand Ltd (ASX:SPK) could offer an alternative to Telstra Corporation Ltd (ASX:TLS) 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.