Tower (NZE:TWR, ASX:TWR) has implemented its capital return of roughly NZ$45 million to its shareholders, according to a Thursday filing with the Australian and New Zealand bourses.
In line with this, the company canceled one ordinary share for every 10 ordinary shares held by shareholders on March 19, bringing the total number of shares in circulation to nearly 342.6 million.
Payments will be processed by April 2.
Tower's shares were up nearly 3% in recent trade in the New Zealand bourse.
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