So DRP should be canned
Last lot ones under water any way
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I don't have an opinion on whether the DRP should be canned or not.
However, with director Greg Tomlinson recently adding to his holding at $1.30 he may have strong views.
Directors and management also have significant holdings,so canning the DRP looks a possibility.
Should it be canned, shareholders can then decide whether they want to use their dividend to buy more HNZ shares or not.
There are a lot of possibilities included canning the DRP and a share buy back.
We live in interesting times.
The 18th August announcement will certainly be of interest.
I think we will. With much talk now of a world-wide milk glut with no end in sight, (milk tsunami anyone ?), and forecast pay-out of circa $3.50 and most economists seem to agree the break even price is circa $5.50 a kilo it seems to make sense that people revert to something that's profitable seeing as the prospects are so grim. Beef has been doing very well.
To me, (admittedly with no expertise on things dairy) it seems a shocking case of Fonterra executives asleep at the wheel while cruising along earning massive salaries. Where are the value add products and seeing as much of their product is simply sold at auction what do all those thousands of executives on $200,000 plus (and often vastly more than that), what exactly do they do for goodness sake ?
It seems to me the whole Fonterra business model in broken. Vote of no confidence in the board should be a given. Break the unwieldy thing up.
Meanwhile with dairy prices absolutely down the toilet why is it that consumers are still be asked to pay circa $4 for 2 litres of milk at the supermarket while in Australia and even England its much cheaper ? Fonterra aren't just milking cows are they, they're milking their dairy farmers and N.Z. consumers...put the bloody lot of them out to pasture and tell them to eat grass !
YESSS the DRP is my compulsory kiwisaver. Just love it when i see my shareholding has increased, a buzz.
OMG did I see $1.12 ...a six month low.
The downtrend continues ...another lower low even the 200MA has started going downhill.
Sold some more .....the ones I have left are now FREE ....yippee
Well, well well, it seems the company's bravado in issuing a profit forecast for FY16 even before the audited results are released for FY15, (something I can't ever recall seeing for any company before), has done little to assuage market concerns. At $1.12 I'm 20 big ones better off having sold at $1.32 and I tried, I really did on here and by PM and e.mail to my mates to tell them the party was over but they all thought I was crazy and one even appears to have even taken umbrage and doesn't talk to me anymore...go figure ? I guess bad news sell newspapers but isn't popular on forums ?
Glad to hear you relieving your discomfort here.Right thing for you:t_up: