A Stuff article.
Fletcher Building is undertaking a $300 million share buy back as a way to distribute funds to shareholders.
The New Zealand Stock Exchange-listed construction giant has also increased its 2021 full year profit guidance to $650m to $665m, the top end of its previous guidance range. It was previously $610m to 660m.
Fletcher Building has in the past been criticised for taking $68m in Covid-19 wage subsidies, cutting workers’ pay by up to 50 per cent, and laying off 1000 people in New Zealand.
To read more, click here.