New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Chorus (CNU) has guided towards long-term sustainable dividend growth.</li><li>To achieve this CNU needs to balance the need to invest enough capex to grow its Regulated Asset Base (RAB) with the short/medium-term need to leave enough free cash flow to grow its dividend, a difficult balancing act.</li><li>At its FY23 results, CNU reported slightly higher than anticipated capex and also guided towards substantially higher capex than we had anticipated for FY24. </li></ul>

Chorus (CNU) has guided towards long-term sustainable dividend growth.To achieve this CNU needs to balance the need to invest enough capex to grow its Regulated Asset Base (RAB) with the short/medium-term need to leave enough free cash flow to grow its dividend, a difficult balancing act.At its FY23 results, CNU reported slightly higher than anticipated capex and also guided towards substantially higher capex than we had anticipated for FY24. 

Chorus - Having the Cake or Eating It? A Balancing Act

Chorus Ltd

Chorus - Having the Cake or Eating It? A Balancing Act