DRP Launched....
https://www.nzx.com/announcements/415399
DRP Launched....
https://www.nzx.com/announcements/415399
A nice DRP day for shareholders, 3.60/3.54 = 1.7% brokerage free return for clicking a few buttons is not too shabby.
TRA have shown in the past they are capable of applying capital for good value - so hopefully the uptake of 420,981 shares, not paying that ~$1.5m will grow the company well into the future.
yes & hope they put the reinvested capital to good use as it is quite dilutive otherwise - if DRP participation rates continue (BOE ~25% elected the DRP), and all else equal, that equates to an annualised increase of shares of about 1.9% (0.48% for this quarterly dividend). 25% a strong take up of the DRP. I'm sure they will put it to good use but its something they should watch and flick off if they can't generate a return on it for whatever reason in the future, IMO.
Turners ROE has ben reasonably consistent over the years
From FY16 to F23 shown below (calculated on avverage equity over year)
FY16 12.4% 11.7% 12.1% 10.3% 9.3% 11.8% 12.9% 12.4% (FY23)
My family trust finally commenced an initial small holding today with a fill at $3.57. It has been ex the quarterly dividend since 10 July, but the market today has treated it as if the actual payment needed to be reflected.
Time will tell if share price growth can be achieved, but meantime happy with the tax paid yield.