Welcome news for shareholders - from one of our largest companies' change in direction

Fletcher Building is selling its construction arm to French multinational Vinci Construction in a deal worth up to 334-million dollars.

The sale's subject to regularity approval, and reflects Fletcher's move to focus on manufacture and distribution.

Craigs Investment Partners' Mark Lister says it'll help the company get back on track - simplifying business and bringing down debt.

He says they haven't paid a dividend since 2023 - so they're likely looking to get back into a position where they can.