Special 3c AUD divvy declared by NZO (not imputed or franked).
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Further announcement re dividend.....
http://nzx-prod-s7fsd7f98s.s3-websit...123/413958.pdf
It felt like a pretty lonely investment over the last year as people trashed my analysis.
A dividend policy plus exciting drilling program ahead should bring a number of new investors on board.
The stock will be rerated for sure.
You have said in the past that NZo have no accrued imputation credits-with possible dividends every 6 months as a company policy when do see imputation credits being attached?
Wonderful that the board has listened and provided to minority shareholders.
Looking forward to a great future.
Might see you at the next agm
What do you mean by "receive"? The registry should have your bank account details and the company (via the registry) should bank the money into your account. You should also receive a complementary dividend statement from the registry as well showing the Gross amount of the dividend, the imputation credits if any, and the resident witholding tax paid.
He is too busy on Hotchopper Cue chat highlighting all of the risks as the sp heads north.
Cue up 50 percent to 10 cents for the day.
Impressive and shows you that the shareholders wanted a dividend to give them confidence that the cash was going to be shared around.
That's utter rubbish .. was a brilliant announcement today complete change of tack from CUE after how many years? of S/Hs wanting action to address the YoY SP stagnation ...
..
And even NZO mgmt couldn't but join the happy change and pass on CUEs funds to all NZO S/Hs...
How could I be Negative on what I seen as the smartest play by mgmt ?? go read the old CUE thread in black n white
CUE spent 38 months going sideways .. moving into an energy yield play fixed this FINALLY !!!
Exactly as I hoped and put across to CUE MD Matt Boyd when he asked the question of what I was hoping to see from CUE going forward as a major S/H at the time.... ENERGY YEILD PLAY !!!! FFS!! up 50% today with prob more to come ..
Waiuta,I have had HZN dividends for a number of years. These are paid into my NZ account and no tax is deducted. The tax is a resedent withholding tax only.. So my accountant then sorts it out. My company has tax losses so I paid no tax but I did lose naturally a lot of my carried forward loses. HZN is Horison oil and an purely Aus company
I too think it is a nice bit of good news for NZO shareholders that they are getting a dividend.
But let’s not get carried away - it’s AU 3cents per share and will be fully taxed in NZ. So you will get AU 2 cents.
That’s still better than a kick in the arse but no call (yet) to say things are going to be amazing for NZO from here on out. HALLELUJAH.
I wish everyone who still owns the stock well, but urge caution as this company has a checkered past.
Even after the bump the SP is 10 cents lower than when I sold 3 years ago.
Very good result for any newcomers who bought a bunch of shares starting with a 3, but a long way to go for long term shareholders who bought in with a much higher average price.
You are spot on. You only get 2 cents, and the stupid thing is that NZO give that other 1c to the IRD.
Actually its bad capital management and I am sure the NZSA will call them out on it.
NZO are effectively giving the IRD a few million for nothing. (with the proviso that I am not sure how the dividend to OG works, in that there may not be payments to IRD. But for NZ tax residents there will be)
At Aussie 2 cents that's approx a 6 percent interim dividend. With a new dividend policy in place and good looking financial outlook then we can all look forward to a year end dividend and many more to come.
Too many people look backwards in life.
Let’s not quibble about the dividend .
1 cent tax is trivial compared to the big picture in yesterdays 1/2 year report .
Earnings increasing all the time-and long-term contracts at much higher than historic prices will ensure this continues for years .
New assets will see this likely continue for decades.
You have repeatedly stated the board will ignore minority shareholders.
This proves you wrong .
Andrew Jefferies has been the absolute best and will continue to find the right investments and grow NZo.
The board now has a policy to review if they are in a position to reward shareholders for their confidence and support every 6 months .
This dividend is minor compared to the rising share price.
I believe it’s more likely than not that the sp will be over 70 cents in 15 months .
All good and well, best of luck moving forward.
As I stated in my earlier post - I think NZO forking out a dividend to long suffering shareholders was a nice bit of 'good news'.
But let's not get carried away. All they have done is pass on the CUE dividend. It would be pretty hard for them to justify not to.
Ultimately, OGOG will prioritise their own interests over miniroty shareholders. That is just a fact of human nature.
Enjoy your divvy, fingers crossed they can keep up the payments (and even increase them over time).
But I would just suggest cautious optimism here. The 2c (after tax) divvy is nice but certainly no cause to start some happy-clappy hymm singing.
The constant seller who has been dumping into the 36s recently should make the market and put some decent volume up for sale.
You know you want too.
Unless they have decided that all is forgiven
I wonder how many others have received an email asking them to update bank details. My details are the same as the last time I received a dividend though of course NZO have changed from Computershare NZ to AUS. I tried to check but alas they require an HIN or SRN, neither of which for the life of me I can find. CSN yes. Interestingly, when I now check my holdings on Computershare AUS I note NZO missing. I have never had occasion to check before. Any suggestions for this poor long-suffering elderly investor?
Sounds like your holding is still on the NZ register so check there. They are dual listed.
You had to request your shares to be transferred to the ASX several years ago, in the interests of listing in a bigger market (Au). I think most did, perhaps you didn't ?.
At the time of transfer to the Australian register NZO promised that NZ banking details would be transferred to Computershare Australia, I've yet to check they have...any comments anyone?
Good interchange of opinion and help between posters, and good to see some infrequent posters back.
I'm not currently a shareholder, but would have thought what is good for OG is good for small shareholders too.
Bearing in mind exploration is continuing, and burns cash, in the hope of striking the prize, which then benefits everyone, l don't think giving away cash now, which is taxable in the hands of the shareholders is a good idea.
However the market has spoken, and they think it's great.
After being badly burnt with Ironbark it’s a big relief that strategy has changed .
Now relatively low cost land based drills in Australia .
The music I like
Amadeus is classic for what NZo are seeking.
Seismic and interpretation is so much easier so much greater certainty of success .
As for a cash dividend it’s from the cue dividend and I guess somebody has to pay tax on profit .
The earnings from cue and NZo are phenomenal -around 10 cents per share and nta about double the sp.
A share buyback would be wonderful for NZo and its shareholders .
I suspect they are holding back for fear it might reduce liquidity.
I do not share this fear as I know several big shareholders would sell some of their holdings if the sp better reflected value
I have a similar problem. NZO appear to no longer be listed on the NZ Computershare register - my CSN number won't therefore bring anything up because NZO isn't on their list. I can't register on the AU Computershare site without a SRN number for my shares, and I need to register to confirm my bank details. I've filled in their 'ask a question' tool to ask about this and hope they answer. I'd have thought they would have contacted us with the SRN numbers when they moved to the new register.
You won't be on the Au Computershare register unless you accepted to do so during the OGOG takeover in June 2022.
You had to opt in to transfer your holding to the ASX or else your holding remained domiciled in NZ. Computershare NZ transferred my holdings to the ASX and I received confirmation 3 days later from Computershare Australia including my SRN.
Maybe you missed the relevant correspondence at the time?.
I didn't receive any email about the dividend.
They may have your details already Toddy.
Quote:
New Zealand Oil & Gas Limited’s (NZO or the Company) proposed dividend payment to shareholders was recently announced for those shareholders on the register at the record date of 27 March 2024.
In order for you to receive your dividend payment by direct credit without delay, you will need to provide your bank account details.
What you need to do
Please update your details at:
www.computershare.com.au/easyupdate/NZO
You will require your Securityholder Reference Number (SRN) or Holder Identification Number (HIN) to access the site.
Any queries or updates to your shareholding should be directed to Computershare online at www.investorcentre.com or via phone 1300 850 505 (within Australia), 0800 467 335 (within New Zealand) or +61 (03) 9415 5000 (overseas).
New Zealand Oil & Gas Limited
K. Will get onto it.
It will be interesting to see how long it takes to flush out the shareholders that want to exit.
In the meantime those that are happy with the new dividend policy and company strategy can sit back.
No 0 is a number. LO.........
I had allot of issues trying to sell me NZO shares. They where held as ASX shares by computershare NZ not computershare australia. So my broker couldnt see them. I think ASB sorted it out for me. I think allot of people will have this issue with shares in the "either"probably todo with when they changed to ASX as primary listing.
I bought some on the nzx earlier this year, no issues as far as I can see. I just did some quick math and the same money in CUE makes over twice the divs. I find this interesting because I bought nzo with the intent of ditching CUE now I am unsure of what to do. CUEs an earner now but NZO has some exploration upside later this year plus earns from CUE.
I tried the so called EASY UPDATE for payment instructions.
I ended up with ANZ is invalid and so is Morrinsville,and my bank account number is also invalid.
Will be going to the Morrinsville bank today to let them know they do not exist and my bank account number I have used for countless years is wrong. God knows maybe Morrinsville does not exist.
any ideas what I am doing wrong on this easy update. After this I do not want to experience a hard update
Call the number on the email. I did. They just said your all up to date no worries.
Yes, not a silly move .. I like NZO Aussie forward Project focus Perth basin+NT gas Vs CUE more Indo focus.. Mahato has been brilliant but must be on the downside of the production curve now ...also the Indo Govt take a big chunk of the production cut once the CAPEX has been made in profit from production ... CUE next Project "Paus biru" Indo gas if they ever make a FID and push that project forward..
I didn't get the email. What's the number to call?
Thanks, will get onto sorting.
Triangle Energy has released documents for a Corporate presentation update on the ASX.
It's a good summary of the plans for the drilling programme in the Perth Basin.
The first drill is scheduled for Q2 2024.
Im pretty excited about the drills and NZO can afford to roll the dice, mean while it's BAU with its current production.
Up 0% in the last year and down about 15% from 2 years ago despite the tax inefficient divvy some are salivating over.
Might need winner in her chanting this is our year up the wahs soon.
Rig news on the Booth drill can't be too far away.
Then the fun really starts.
Just off the phone with Computershare Australia. The staff there had a meeting to discuss all of the confusion.
Im not sure if it's common to have trading on NZX but registry is in Australia.
The sooner the lot gets transferred from the NZX so that there is just ASX trading the better.
Does anyone know the plan regarding this?
Im sure that NZO management will be looking into it as the dividend process has highlighted the inefficiency of two trading platforms.
I used that easy update today for CUE. It was as it should be. Easy. If you have a number that starts with an X and you know your own bank account and phone number, your in.
NZO has given us SRNs starting with 'L' letters. The Computershare staff want X SRNs.
Anyway, hopefully it will be sorted before the next dividend.
On a positive, the Aussie registry thinks that my shares are Australian. So they are worth more on paper. Shown in AUD and at the ASX price.
I got told quite categorically by Computershare staff that NZO didn't trade on the NZX. :mellow:
Very much a lack of customer service - but then again they don't generally get revenue from shareholders.
It will probably more than likely turn out to be a good thing. Just another reason to simplify the registry and move off the NZX.
Anyone think of a reason why NZO still needs to trade on NZX?
Probably a bunch of legacy long suffering punters on this side. Reg Office & HQ in NZ ?
After past treatment & Take-out antics of the past - shutting up shop here might be a move too far
but they might try dumping the NZX listing now after throwing a few Aussie pennies around ;)
the smell of a Div might get the Aussies a bit more excited, but a name change perhaps needed ?
What I mean is an official delisting from the NZX and shifting too ASX permanently.
Should be a simple exercise as the ASX side is already set up.
Another week has gone by. It's a slow burner waiting for any long term suffering disgruntled shareholders to show their hands and put some decent volumes on the offer.
At what price (ROI) does the definition of 'long term suffering disgruntled shareholders' becomes happy shareholders.
This definition surely belongs to a raft of other NZX stocks that are way more qualified at losing shareholders money with negative outlooks and crap balance sheets.
Toddy it was surprising how much a dividend stimulated activity in a stagnant CUE. All NZO seems to be getting at this point is CUE's payment. I think CUE will now pay a regular div the way I read it, so you might see some interest around actual cash flowing through NZO, but I suspect you need the Triangle drill done before you look at NZO from a cash flow point of view on it's own. I bet long term holders see little point in selling at todays levels.
If CUE sold that would make things interesting.
8% div just on CUE's first payment with the expectation of regular divs from CUE in the future. Add on anything NZO might start to pay and you could be looking well north in the near future.
The neighbour at Perth Basin had positive drill results yesterday.
Adds to the anticipation.
Unrelated but interesting ( I thought)
https://www.edo.org.au/wp-content/up...4-28-Final.pdf
https://ieefa.org/resources/beetaloo...-gas-producers
Some may be interested.
Ex dividend yesterday. Price reacts accordingly.
I did note CUE paid out $14m, and even after this, market cap is $17.5m more than what it was prior.
The power of cashflow.....
Oh how time flys.
In reply to the above post I promised that I would report back in a years time. Well, the year is up.
It's still early days. But I can report that I have easily covered my cost of funding and are looking forward to another year holding NZO.
Dividend of 3.3 cents on average buy in price of 38 cents.
Mtm is 4 cents.
Sure there are better stocks. But I'm happy with how things are tracking and confident about the future.
I'm pretty sure he was trying to buy NZO on the ASX recently Toddy. If we get another two CUE divs over the next 12 months around 1 cent each the return is starting to look pretty good.
Was a step change moving to Energy Yield play by CUE ,,,what I wanted to see years ago .. NZO getting some love in the back of CUE .. still the SP isn't exactly rocketing north Thursday close NZX-43.5c ASX - 37.5c.... pretty much same price it was trading for a year ago ...but hey you got a dividend now thanks to CUE ..
And some exploration to start soon enough.. hope for all the suffering NZO holders they can see some real growth to keep ahead of inflation
Thought about it for a minute or two...but trade volumes are even more pathetic than NZX.
And wasn't interested in 5-10k investment but much more ....but
I knew within a short period I'd be regretting it and I don't have the patience for NZO go slow approach to then be stuck holding unable to trade out on my terms ... instead moved funds into VLE:TSX go check its SP action last month... only wish I didn't trade out for a quick profit
It is looking like we are in for an exciting time for the sp
A large dividend will shortly be distributed
I wonder what shareholders will do with this ?
Ogog of course will get millions
Increasing their shareholding might make good sense -only speculation but it applies to all shareholders
https://www.abc.net.au/news/rural/20...e=abc_news_web
This is interesting regarding gas demand in the Northern Territory.
Has NZO just struck gold with their recent 25 percent increase in the Mereenie gas field.
Gas is running out in the NT and they need it for electricity production. Central Petroleum has stopped exporting gas via their Queensland pipeline because the gas demand locally is outstripping supply. .
Think the divvie was supposed to hit the bank today......
Better check after the schmozzle with Computershare!!
Same here. Money in the bank but I haven't received notice of the payment or details of any Au or NZ tax deduction?. My NZO shares are on the ASX register.
By now you should have received by email this required statement.
Note all tax is NZ tax
Here for anyone wanting how to cals
[number of share]x [.0326436] =gross amount
Gross amount X .33 = tax
Gross amount less tax== What you got.
Don,t forget at finacial year end to record this as most likely get some back. A 33% tax rate is pretty high
I had no problem with the CUE payment, received NZO dollars but cannot find the statement. I have the computer share showing my holding but no payment history.
Well lucky you. I have still not got my CUE payment and I am in T20. It has a hell of a history. I will try to make it as short as possible but in reality it is long and stressful
Firstly weeks before 5th April I tried to send to computershare a bank deposit slip which has the account number on it,but computershare would not accept it and sent me the exact form they wanted the details filled out on. Did this on their form and sent it back by registried mail. Received nothing on 5th April so by 8th went to the bank and was told that the Bank can take 3 to 5 days to clear overseas money.They found me impatient and needlessly concerned that money could have gone into wrong account.also told them other CUE holders with other bank had their money already. So nothing on Tuesday the 9th. Yesterday the 10th got a call from women I know at the Morrinsville bank saying she had found out that the Bank had never received any said money fro Computershare Australia {CSA}. So I took the registred letter receit back the post office and got the exact time CSA received this exact form and who signed for it. Then rang CSA and got some non native speaking English recipent on the phone. I am very deaf and have a special phone set up into my ears which works very well in NZ. This was the first time I have used it for overseas calls. I could make out about one word in 10 he was saying,so had to end the call saying I would get my wife to ring. She did this and got eventually someone else. This second person said they would look into it and would probably have some answers by 4 or 5 days. In the meantime both my broker and my son [who lives in Hong Kong] had disovered that the money was still with CSA which was a great relief to me and it was not sent to my bank account as someone had put a little one after my perfix as 00. So someone from CSA put the ending as 001 instead of 00. Back to the bank again and was told that as 001 at the end of my bank account does not exist no money can be transfered. They more or less implied it was somewhat my fault as if I had sent CSA a bank deposit form none of this would have happened.Yes I know we are going around in circles but in reality that is what happened.Went over the story about how CSA want info only on their printed form and some one there had put 001 instead of 00. The bank said they would send to CSA my bank deposit slip and did so on the 10th. In the meantime on the 10th yesterday when at the bank my NZO dividend arrived. Was shocked that I received only about 65% of what I had expected. {I need to make the comment here about genetics . My family line tends to deafness by all have good hearts otherwise I would probably have had a heart attack} The cals for NZO dividend are child play compared to CUE dividend.
So there we are Story to be continued as it happens.
https://www.nzherald.co.nz/business/...OZPLABYABIWQA/
NZ is running out of gas. As per the AGM, NZO strategy would be to ship gas from Australia. Not pump more money into NZ.
I received the payment and an emailed statement for CUE in NZ dollars but with NZO I have an odd amount in my account and an email directing me to Computershare to get my dividend advice. When I did that there was no payment activity available. Inconsistent service.
Yes exactly what I experienced.
I contacted Computershare re the payment advice and received this reply which when followed worked for me.
T hank you for your recent enquiry.
Please note that the NEW ZEALAND OIL & GAS LIMITED (NZO)2024 Special Dividend is available onlinein your Investor Centre account.
You can locate this statementby going to the'Documents' section. Then select 'Statements & Documents' for your securityholding, and download or view the PDF.
Yep all good here, arduous logon process but no different from Computershare NZ.
Great to see Div tax deduction calc as per any other NZ share, even though mine are ASX domiciled like many/most now.
Hopefully IR pick the Div up within MyIR meaning prepopulation for next year's tax return. All working. Happy.
[QUOTE=
Hopefully IR pick the Div up within MyIR meaning prepopulation for next year's tax return. All working. Happy.[/QUOTE]
Possibly not. I still have to manually add ANZ and Westpac dividends and tax paid to my return - although they are obviously Australian companies and paid out in Aussie dollars - converted to $NZ.