Tower Limited ( (AU:TWR) ) has issued an announcement.
Tower Limited has successfully implemented a capital return of approximately NZ$45 million to its shareholders, cancelling one ordinary share for every ten held. The company obtained a Class Ruling from the Australian Taxation Office, confirming that the capital return will not be treated as a dividend for Australian tax purposes. This ruling provides clarity on the tax implications for Australian shareholders, who are encouraged to review the ruling to understand their tax positions. The announcement underscores Tower’s commitment to transparent financial operations and may influence shareholder confidence and market perception.
More about Tower Limited
Tower Limited operates in the financial services industry, primarily focusing on providing insurance products and services. The company is based in New Zealand and has a market focus that includes shareholders and stakeholders in the Australasian region.
YTD Price Performance: 11.11%
Average Trading Volume: 34,352
Technical Sentiment Signal: Sell
Current Market Cap: A$439.3M
Learn more about TWR stock on TipRanks’ Stock Analysis page.