And to top it all off yahoo now have the data for incrediblecharts,now it just has to break the 70c resistance and away we go.
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And to top it all off yahoo now have the data for incrediblecharts,now it just has to break the 70c resistance and away we go.
Blobbles, last I heard they run on Finzsoft's Sovereign. Might not be current, but if so, doesn't clang my bell for mainstream banking
Thanks for the AGM report Percy.
Thanks for your report Percy. I understand what you say about HNZ not taking on the big banks at their game (previous posts) but it stills concerns me as a shareholder that they do not intend to be a real bank. I am overweight on this stock and watching with interest, so very much appreciate the opposing and challenging posts we see on Sharetrader
They are not the new Westpac.Not trying to be. In fact they are staying away from the big boys.There is space for them. Reread the presentation,and see where they are.
They have done everything [bar the bank licence] they said they would.I can only say that if I was overweight I would go to bed having sweet dreams tonight after today's after todays agm.A friend of mine is overweight in them too,and couldn't attend the agm.I sent him an email saying "you should have brought more." !!!!!!!!!!
Depends what you really mean by real bank.I take it internet banking etc,which I believe they can do now.Clanging Xerof's bells, I don't think they ever will.
You have an investment in a fine company.Sweet dreams.
ps.Please come to next agm.I hope Forest shares with us his throughts on the agm.
Hi Percy
Thanks very much for attending the AGM and your most helpfull and informative report. Hard to believe that you were at the same meeting as the chap from the "Press" !! :D
Cheers
The Press have again let down their readers [again] with such poor coverage.
Pity they thought it was so important to report the old girl and retired [20 or 30 years ago] diary farmer,who thought they were at the PGC agm.!!!!
Luckily the HNZ presentation is available on NZX site under announcements.
Special as it signals that shareholders who put up the money for the PGC recap three years ago are finally going to receive a return on that capital.Most of the shareholders at the agm are retired,on fixed income, so dividends are very welcome.
It is special as it signals the company is on track.Also on track to start paying regular dividends.
It is special as it not an interim, or a final dividend.
Just reassuring to shareholders,who will benefit from the extra cash just in time for Xmas.
I like dividends as it is a simple discipline to remind directors who owns the company,and who they are answerable to.
Thanks for your reports, percy. Love your enthusiasm.
Seems unlikely they'll pay an interim in March 2013? Maybe a 2c final in September 2013 if they lob into the projected $21-24M NPAT range for the full year to June 2013? At first blush $21-24M for FY 2013 suggests little progress on FY 2012, but 2012 was puffed up with tax windfalls.
How do you translate the dividend policy in a practical sense? Would you reckon we might see average payouts in the formative years around 50% of NPAT?
The policy is as follows: Heartland willdetermine dividends (both interim and final) based on its net profit after tax,subject to maintaining a prudent level of capital for its needs. Heartland’scapital needs will vary from time to time, depending on a range of factors(including regulatory and credit rating requirements, general economicconditions, current and expected growth and the mix of business). A keyobjective is to ensure an appropriate balance between maximising shareholderreturns, and protecting the interests of depositors through prudent capitalmanagement.
The agm renewed my enthusiasm.You try to think ahead,and I have posted too much on HNZ,and you think to yourself,what have I got wrong,what can't I see? Then at the agm I could see I hadn't got it wrong.
Talk of March/April 2013 divie,then regular interim and final divies.So, not long to March/April.The amount concerns them.Once they start paying a certain figure shareholders/the market will expect them to keep paying that amount.The chairman kept on that they were being offered a lot of opportunities,and wanted to keep capital, incase they went ahead with these.I took it they didn't want to buy another business,pay a divie,then find their ratios were weakened.They willn't do that. He repeated that they were looking at a number of opportunities.I get the feeling they are close on something,or some things. So what will they pay? No idea,sorry.Although, we think there is no improvement in NPAT,you are right that tax windfall puffed up the 2012
result,so the $21-24m is a great improvement.I would hope that we would see a payout of 50% of NPAT for divies,but it will be a long way off I would think,but that would depend on cash required for acqusiitions.They are still a small company to be a bank.
I get the feeling they know where they are going and exactly how they are going to get there.Chairman Irvine said something along the lines,we have done the work,watch us perform once we get that bank licence.He was "full of enthusiasm",in fact rearing to go.!!! Watch the share price perform then.!!!
I did ask if they were looking at F&P Finance.Brushed me off a bit by saying yes,but it has been for sale on and off for about 12 years now,but yes amongst a lot of opportunities.
Good work Percy, the F&P Finance question was one I wanted answered too. Sounds like a definite maybe!