Heartland NZ to pay special dividend to investors

Heartland New Zealand will pay a special dividend of 1.5 cents a share to investors next month.

The lender, which was established through the merger of CBS Canterbury, Southern Cross Building Society and Marac Finance last year, also told shareholders it's forecasting a full year profit of $21 - $24 million.

Last year's profit more than tripled to $23.6 million, after the purchase of PGG Wrightson Finance.

Heartland New Zealand is expected to find out whether it will get approval to become a bank next month.

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