NO REASON?? Ever heard about peak oil?????????
Otherwise I mainly agree with your post.
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Upside_umop
Good posting.
The only trouble with being a shareholder in NZOG is having to put up with the trolls who inhabit this site, who dont want to get their facts right, and whose only suggestion is to sack management. And then theres Dunc.
You are correct Upside and this is exactly my point. If the Co. is really committed on re-investing in growth, why are they giving 'dividends' (in the form of a huge rise to TR last year and extra bonuses to the directors this year) when those guys should be pulling their belt in until NZO discover the elephant they're asking us to fund? As you say, they're giving off the wrong signals to the investing public.
good post guys and i agree. at the end of the day as shareholders we are the ones to blame and not tr for being greedy. if you dont ask you dont get. he asked and he got. it is really that simple.
Tapis has hit $100!
Oh dear god, why oh why are we still talking about dividends?
We must remember we arent some nickel/base metal explorer, where everyone hangs out for drill results & the quarterlies, where management put more spin on things than Shane Warne ever did.
Whoever mentioned that "Buffett doesnt pay dividends", was on the right track.
It's how NZO allocates & uses its capital that is of more importance, than trying to satisfy "traders" wanting some "special dividend".
I suspect many here still holding NZO would bail on a 20c spike anyways, so why would NZO be held to ransom & bow down to those with a short term focus?
With literally 2 decades of substantial income now locked in, paying down debt levels is the BEST thing NZO can do right now.
Why, because the future cashflows will service the debt on the acquistion(s) NZO will need to grow (to meet the 2mmbo per year target) & avoid being taken over in the process.
Shasta i believe in two things that must go together. True the company should not pay dividends until credits are available. We should be patient and wait. Unfortunately TR should also wait and so should directors and staff. I have spent some time with a small amount of success getting investers into NZO. It hurts when the average shareholders is told by management no to any payout as it is too early then turn around and become the CEO in NZ that takes home the biggest pay rise on NZX. Also last year at the AGM we had some benifits and again this year.This take as much as you shareholders will give me is starting to become a bad habit and from the feedback i am getting it explains some why the SP stays at a dollar when Tapis has just hit 100. Such a thing would have been unthinkable just a few years ago---but so would all the staff and personal benifits been unthinkable.
You mentioned Warren Buffett. Warren takes great pride in getting a small CEO income and has no personal benifits that are not available to all shareholders. That fact as i have read several times explains the great respect the investing Public has in him.
Market up 1.7% and oil at a record high, and look at good old NZO.
Why would you want to buy NZO!
Paddie
You would buy NZO because it is undervalued paddie you have to ask yourself would you rather buy a under or overvalued stock ?