When is the End of FY Dividend Record Date?
Dividend payment this month is 9c/share making a total of 13c/share fully imputed for the financial year.
Payment date is 28 June 2013.
According to Direct Broking (of which I am not a member), CVT are still Cum Dividend.
I cannot find any information regarding the record date in any CVT's announcements, or on ASB Securities, or on the NZX website.
I have found the Record Date of 19-June-2013 on this website:
http://portfolio.sharesight.com/tools/dividends/NZX
Seems to be a very short timeframe between the record date and the payment date compared to most NZX companies.
Can anyone verify and/or provide a link with official info?
$3.80 is the current price for the big boys/girls
I don't normally concern myself with trading action, but I was surprised to see an off-market trade this morning at $3.80. $3.4mill worth changed hands. That is a decent premium over the previous close of 3.58.
I won't be selling mine at 3.80, but it would likely be a short-term target price now.
Perhaps a SSH notice on the way.
Some negatives after reading the Annual report and Edison research
I've just read the Edison and Annual Report. Overall, I think the Edison report is a bit disappointing as it does not detail expected margin across the sectors. I think this is key to understanding FY15 profit estimates.
But a couple of things I have noticed that will affect FY15:
1.Forex. If current the current exchange rates remain the same, CVT will take a hit as exchange rates across the sensitive currencies are above FY14 average.
2. Other income. In FY14, Comvita received Other income of $2.8 Mill. Edison forecast this to be $1.5mill in FY15. Other income include "Change in fair value of biological assets and agricultural produce" and "Government Grants". Without this income FY14 would have been weaker than FY13. So the FY14 result really was quite poor.
3. Interest expenses are going to be bumped up by $1.3mill in FY15
4. Integration Costs of NZ Honey
So definitely some headwinds in FY15. The first half result has already been flagged as poor ... "We anticipate a bigger loss at half-year than last year but an increase in net earnings for the full year. "
I've been quite bullish on CVT in previous posts. I'm less so now.