NZX has signalled an end to its unconventional dividend policy, which has tied the stock market operator to stepped increases of not less than 1 cent a share since 2009. The Wellington-based company today declared a first-quarter dividend of 1.25 cents a share and expects to pay 5.6 cents for the year. That’s based on a dividend policy introduced in …

Former Fonterra Cooperative Group chairman Henry van der Heyden will head up the board of national gateway Auckland International Airport after the annual meeting in October. Van der Heyden replaces Joan Withers, who also heads up MightyRiverPower’s board, who signalled her exit last year. The company’s board will start looking for a replacement director in the coming months, it said …

Stocks on both sides of the Atlantic gained, pushing the Standard & Poor’s 500 Index to a record high, after the European Central Bank reduced borrowing costs, while US unemployment claims posted a surprise decline. And Warren Buffett, the 82-year-old billionaire, sent his first tweet-and then promptly attracted followers at an initial rate of about 1,000 a minute. The key …