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Chorus has raised its dividend after surpassing NZ$1 billion in revenue for the first time. The broadband infrastructure provider reported NZ$1.01 billion in revenue for the year ending June 30, 2024, marking a 3% increase from the previous year’s NZ$980 million. Despite the revenue growth, Chorus posted a net loss of $9 million, primarily due to a non-cash tax expense related to the removal of tax depreciation on buildings, increased depreciation of copper assets, and higher interest costs. The surge in data demand played a significant role in the revenue boost.
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