PGG Wrightson Resumes Dividends as Farming Sector Rebounds

PGG Wrightson (NZX: PGW) has announced the resumption of dividend payments following improved confidence and spending in the farming sector. The rural services company reported a 13% rise in operating EBITDA to $41.4 million for the six months ending December 2024. Net profit surged 25% to $16 million, while operating revenue edged up 2% to $570 million. After withholding dividends in 2024 due to sector uncertainties, the company has now declared an interim dividend of 2.5 cents per share. The decision reflects renewed optimism in the agricultural market, with increased farmer investment driving growth. Despite the positive financial results, PGG Wrightson's share price showed some volatility. The company remains focused on supporting New Zealand’s farming sector while maintaining a stable financial outlook. Investors will be watching for further signs of sustained recovery.

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