It's a better report than TEL, higher dividend and fully imputed. A just reward for all the bureaucratic socialist sniping from the idiot Commerce Commission.
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It's a better report than TEL, higher dividend and fully imputed. A just reward for all the bureaucratic socialist sniping from the idiot Commerce Commission.
Yeah I must say I am surprised the report didn't push them through the $3 resistance level in quick order this morning. It's a very nice divvy.
Could even be something as simple as all the folks that previously bought in at $3 or above are seeing that as an approximate number to sell at and get their money out without too much of a loss. That selling pressure, in turn, is enough to keep the ceiling in place. $3 is a major resistance/support line.
stock went down because capex forecasts for FY14 were higher than analysts were expecting. On top of that each fibre install is costing ca $1600 vs forecast average of $900-$1100.
Ah I see the reason for the slight dip now. Morningstar have reaffirmed their accumulate rating and $3.60 valuation.
I'll take the dividend :-)
Look at the gross dividend yield ratio.
It appears that analysts haven't read the CEO's statement that some streets only take $1,000 to cable lay and that they have done the difficult central city streets first and will do easier stuff from now on.
But they ("analysts") don't believe that. In other words they believe the CEO is deliberately telling lies.
He would have to have a very short term horizon to do that, he would be out on his ear about a year later. I don't believe he would do that. Its not a Ponzi game.
A bit of light reading for the public;
http://www.nzherald.co.nz/business/n...ectid=11118623
:-S
Totally agree, I think regardless of the boat rocking by any other groups, the short-term pain of higher copper prices is a really good strategy to move more people faster onto fiber for the long term gain.
I think they're playing the smarter game, and likely labour wont get in next election so they'll have a few years to ride it out.
A happy holder here.