Results what I expected. No surprises for me except seeing the sp oversold. Have been buying up all morning at these low share prices. Should be back over $4.10 or 20 in no time and 14c div to look forward to.
"Under the Plan, additional Shares acquired in respect
of a cash dividend will be issued at market price as
determined around the time of issue, or (at the Spark
New Zealand Board’s discretion) at a small discount to
the market price"
Can anyone tell me the usual discount Spark have applied in the past?
Not too many surprises here. But the big disappointment must be the FY2025 dividend outlook where the projected dividend rate is maintained at 27.5cps, (yay), but with a forecast imputation credit rate of only 75%, down from 100% (boo). This is effectively saying that operational profit for FY2025 is projected to fall by 25%! My take on this is that the long term outlook remains favourable (they would have cut the dividend rate if it wasn't). But the recovery, driven by mobile and datacentres will take longer than expected (FY2026 is when profits will start ramping up again). As I long term investor, it is now on my radar to take advantage of any more price weakness. But I will probably wait until after the divie now and let 'Mr Short term market' do whatever he will do. So disappointed, but this is why I always buy my shares at a discount to acceptable yield. Nevertheless, if you want to see where this industry is going in the medium term, look across the ditch to the sort of factors that are driving Telstra.
SNOOPY
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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