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>Vector (VCT) delivered a strong 1H25 result, well ahead of 1H24 and comfortably ahead of our forecast. Regulated electricity revenue growth was the key driver, aided by good cost control.</li><li>VCT announced its much anticipated new dividend policy, which provides confidence that it can step up dividends throughout the default price path 4 (DPP4) period.</li><li>The DPP4 reset, occurring on 1 April 2025, will provide a material uplift in near-term earnings. </li></ul>

Vector (VCT) delivered a strong 1H25 result, well ahead of 1H24 and comfortably ahead of our forecast. Regulated electricity revenue growth was the key driver, aided by good cost control.VCT announced its much anticipated new dividend policy, which provides confidence that it can step up dividends throughout the default price path 4 (DPP4) period.The DPP4 reset, occurring on 1 April 2025, will provide a material uplift in near-term earnings. 

Vector - Dividends Cleared for Growth—1H25 Result

Vector Ltd

Vector - Dividends Cleared for Growth—1H25 Result