Goes ex on the 25th, paid 11 Oct from my records. Theres a DRP with a small discount from memory.
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Dividend reinvestment plan
http://www.chorus.co.nz/dividend-information
From the PDF it says the rate at which the dividend will be invested is a five day volume weighed average price prior to the ex date minus a 3% discount.
Is this really a good deal though? At first it would seem so, however when you look at it,
15.5 cents ÷ 296 (current shareprice) makes for a 5% return. Hence I can foresee dividend strippers possibly bidding the price up at least 3% in the days leading up to the date, if not more. If it was more, you'd actually end up paying a premium for these shares.
The clincher of course being the zero brokerage fees. Hence if you're wanting cheap shares then this isn't the deal it might seem, but if you want to build your holding then it's great (due to the lack of brokerage).
NBT
Your post is not correct. Following is an extract from DRP document:
P (price) is the volume weighted average sale price (expressed in cents and decimals of cents), for a Share, calculated on all price setting trades of Shares which took place through the NZX Main Board over a period of five Business Days commencing on the Ex Date (less a discount (if any) at the discretion of the Board, as contemplated by paragraph 12(a)(i) of these Terms and Conditions).
Aha! Thank you. I was wondering if there was something I was overlooking. So then given the fact the price is based on five days AFTER the ex date when the price should fall then this is actually a great deal!
Another good reason to own CNU I guess.
Disc; happily holding CNU and soon some more ;)
... look's like a solid deal for sure. Onwards and upwards CNU...
Good God, "The Coalition for Fair Internet Pricing".
When I read the Stuff article it seems like there is some pretty hairy logic involved.
"The $600m figure used by the coalition is derived from the difference between the commission's proposals and those of Adams."
To tag this as a $600 M tax is an interesting way to characterise it to say the least.
Here's what i just read on Stuff:
"Chorus big winner in internet reform: Coalition
Hamish Rutherford
Kiwi broadband users face being taxed at least $600 million by the Government, with all proceeds going to privately owned Chorus, a broad coalition says."
Look at the make up of this "Coalition". It is being led publicly by Consumer New Zealand chief executive Sue Chetwin, InternetNZ chief executive Jordan Carter and Paul Brislen, chief executive of the Telecommunications Users Association of New Zealand (Tuanz).
Other members include the Federation of Maori Authorities, Grey Power, the the New Zealand Union of Students' Associations, Rural Women and the Unite union.
It is all just so political.