The Telecom Corporation of New Zealand is one of the leaders in the Australian telecom industry employing over 8,500 people globally with a large percentage of that number based in New Zealand itself. In compliance with the Telecommunications Act of 2008, the comapny was separated into five separate entities, each catering to a specific market niche. In 2009, the company brought in over NZ$5,599m in operating revenues and other gains and paid out a significant dividend of 24¢ per share.