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NZX-listed investment minnow Allied Farmers has agreed to sell two Waikato farm properties acquired from failed milk processing start-up Happy Valley Nutrition in late 2024. In a statement to the NZX, Allied said the farms would be sold to an entity associated with the current tenant, subject to conditions including finance. Allied said after repaying debt secured on the land it would have about $2 million left. Managing director Richard Milsom confirmed the properties being sold were a 141.6ha dairy farm and a 151.3ha finishing farm near Otorohanga. Property records show the farms were acquired in August and September 2024 for $2.1m and $1.6m respectively. Allied retains an industrial site and its associated consents, as well as a 05ha block containing a bore. Milsom said money from the sale had not been allocated as yet but was “likely to be used in connection with progressing further investment in this project or an adjacent [one]”.
Hamilton Airport is set to pay its shareholder councils a record $1 million dividend before Christmas. It comes on the back of the airport's first profit since 2019 that did not rely on land sales or valuation adjustments. Hamilton City will receive around $500,000, with Waipā, Waikato and Matamata-Piako Districts receiving about $156,000 each. Ōtorohanga District will get close to $31,000. Waikato Regional Airport Limited chief executive Mark Morgan said the airport delivered a strong financial year, with operating revenue increasing 19% to $23.6m. "Our financial results reflect our first full 12 months of international services between Hamilton and Australia, plus the new jet services between Hamilton and Christchurch added during the year," Morgan said. The airport paid a $450,000 dividend to shareholders last year, and a $500,000 dividend in both 2022 and 2023.