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23-06-2015, 10:58 AM
#841
Originally Posted by sb9
Excerpt from CEO's letter today to shareholders:
Revised distribution policy
Our Board has concluded that we can support increased distributions to shareholders and as a result has revised our distribution policy to target an average ordinary dividend equivalent to approximately 100% of underlying earnings after tax1 (previously 80%). Contact expects free cash flow to be in excess of the ordinary dividend level described above and will make additional distributions in the form of special dividends or share buybacks.
Could expect more dividends to shareholders in times ahead...
Excellent, happy holder that bought more last week
Been more weakness than anticipated but thats been the case for a lot of stocks recently and rolling the dice on Tiwai I think it will roll over
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23-06-2015, 03:07 PM
#842
Anyone here got the money into their account for special divvy being the payment day. Haven't got mine yet..
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23-06-2015, 03:15 PM
#843
Originally Posted by sb9
Anyone here got the money into their account for special divvy being the payment day. Haven't got mine yet..
nope but probably overnight.
interesting share price today, they put an announcement out effectivey increasing divy's by 20% and it still loses ground
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23-06-2015, 03:19 PM
#844
Originally Posted by workingdad
nope but probably overnight.
interesting share price today, they put an announcement out effectivey increasing divy's by 20% and it still loses ground
I think part of the blame lies with Origin's uncertainty and other part with Tiwai Point's hangover (with some indication on Jul 1st)...
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23-06-2015, 03:28 PM
#845
Originally Posted by sb9
I think part of the blame lies with Origin's uncertainty and other part with Tiwai Point's hangover (with some indication on Jul 1st)...
yeah I agree, uncertainty in the current market which hasnt exactly been bullish the last few months, overseas investers pulling money out with our dollar dropping proabably having some impact too. Just keep banking the divy and see where the cookie crumbles
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23-06-2015, 10:54 PM
#846
Last edited by Hoop; 23-06-2015 at 11:13 PM.
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24-06-2015, 08:17 AM
#847
I cant open the chart but it will be a result of the limitations in work system I am on than anything.
I wish I had your depth of knowledge and have a lot to learn, someone playing a smarter game may have sat back a bit longer before topping up but its a learning curve and I am still happy with the risk versus reward at present and think they are already oversold. With the numbers of shares being sold there is an equal number of buyers and throwing a bit of a guess out there that some large buys will be coming soon as the value becomes tempting to pass up.
I look at the share price when they did make the statement about overseas investment, share price took a hammering but still meet resistance mid $5's then the bonus divy was announced followed up by yesterdays statement of 100% earnings distribution, possible buy backs and monthly report with increasing demand and a cold start to the winter. Flip side, potential tiwia (my take is business being business playing a hard game to get a better pricing structure) and even Origin selling up which I cant see them doing unless the price is right ruling out on market.
I may be wrong on this but the market is looking anxious to me, some suprising drops from nervous traders with itchy trigger fingers in excess of what would be justified such as Air NZ. I have only been doing this share market thing for 2 years so my experiance is very limited but my feeling is things arent as good as they were, CEN is something I have parked some money in and could be there for quite some years, the econmy is not looking great, electricy is a stable earner in a poor economic climate which is my rationalle.
I will certainly feel more confident in this if the price starts coming back up and feel free to educate me further, I am keen to learn and appreciate it
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24-06-2015, 09:51 AM
#848
Hi Hoop, I don't follow CEN but I notice there you said there was a recent 50 cent divi.As the SP gets closer to $5, a 10% divi looks attractive.
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24-06-2015, 10:23 AM
#849
Originally Posted by airedale
Hi Hoop, I don't follow CEN but I notice there you said there was a recent 50 cent divi.As the SP gets closer to $5, a 10% divi looks attractive.
That was a special dividend announced after they dumped their plans for overseas expansion. Came into the bank yesterday :-)
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24-06-2015, 10:30 AM
#850
Originally Posted by iceman
That was a special dividend announced after they dumped their plans for overseas expansion. Came into the bank yesterday :-)
The special dividend means that CEN does not see any current prospects for growth - that's not good for a share price... However...
CEN also announced that their dividend policy is changing from 80% of NPAT to 100% of NPAT.
Watch this space - CEN will offer some great dividend value as the price keeps going down!
'I often quote myself. It adds spice to my conversation.' - G B Shaw
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