August 24, 2014 / 9:52 PM / in 3 years

NZ's Heartland year profit rises

WELLINGTON, Aug 25 (Reuters) - New Zealand bank and financial services company Heartland Ltd posted an annual profit in line with expectations as its income improved in the strongly growing economy.

The company reported an after tax profit for the 12 months to June 30 of NZ$36 million ($30.03 million) against the previous year’s NZ$6.9 million. It had forecast a profit of about NZ$36 million.

Heartland, which offers niche business and consumer finance as well as banking, declared a dividend of 3.5 cents a share against last year’s 2.5 cents a share, taking its full year payout to 6 cents. (1 US dollar = 1.1988 New Zealand dollar)

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