Contact Unveils Increased Dividend Payout Policy with Strong 1H Results
Conditions are extremely favourable for narrow-moat Contact Energy at present, with low lake levels and gas supply outages causing wholesale electricity prices to spike. Fortunately, the issues causing prices to spike haven't impacted Contact to a material extent and it has increased electricity generation to take advantage of high prices. We estimate EBITDA in the first four months of fiscal 2019 in the core integrated energy division is up nearly 30% on the previous corresponding period, and u...Contact Energy sell electricity, gas and liquefied petroleum gas (LPG) products and services to residential, small business, commercial and industrial customers. Co. has two operating segments: Integrated Energy, which is a generator of electricity and a purchaser and retailer of electricity and natural gas to customers throughout New Zealand; as well as Other, which consists of other products and services provided by Co., which includes the sale of LPG.
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