Telecom NZ share buyback

24/02/2012 11:16:00

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Telecom Corporation of New Zealand Limited (ASX:TEL) has posted a net profit of just over $NZ 1 billion for the six months to December.

The period includes five months of trading before the demerger of Chorus.

The telco says that because of the demerger year-on-year financial comparisons are complicated.

A fully-imputed dividend of 9 cents per share has been declared.

Telecom has also announced the buyback of up to $NZ 300 million in shares during the 2012 calendar year.