News Round Up
It is intended that Tower Australia Group Ltd shares will list on the Australian stock exchange on November 21.
Tower shares have fallen since shareholders voted, last Monday, to approve the separation. They fell from $3.50 to end the week at $3.28.
Key not keen on FDR
National Finance spokesman John Key says the current fair dividend rate tax regime being promoted by the government is too messy and won’t work.
While he originally supported FDR his view is that a deemed rate of return method is more appropriate.
125 candles for Trustees Executors
Trustees Executors, which bills itself as New Zealand’s first trustee company, celebrated its 125th birthday last week.
The company, which was established in Otago, is these days owned by US-based Sterling Grace Corporation.
Trustees Executors is a provider of a range of services, including corporate trust, custodial, investment accounting, and mortgage management. They also provide retail trust and wealth management services.
"Trustees Executors is one team of dedicated staff across five locations who, in a fiduciary capacity, are helping New Zealanders secure their financial goals and aspirations," executive director Deepak Gupta says.
