Feltex (FTX) - All over for shareholders

[winner69]

Come on guys - this stock is just not moving

Div 6 cents if you get in by October 1

Papertiger is on board ... need a few more

[Snow Leopard]

W69

Flattered that you hold me up as a shining example of good investment sense [:I].

[moimoi]

maybe $1.50 on Oct 2nd.

discl: I know nothing[:o)]

[winner69]

Come on moimoi ... surely not $1.50 ????

Paper Tiger said earlier that there is little risk in FTX at current levels

[Snow Leopard]

Moimoi: Oct 2nd is a saturday and the market is shut

In theory the share price should be 6cps less on 04-Oct than it was 01-Oct. So assuming no gain till then than is 152 and it will then start to climb back.
Remember we are playing this game out over the next year not the next month.

[Snow Leopard]

just hit 163 after opening at 160
Lets just hope it keeps going this way [^]

[limegreen]

quote:just hit 163

I was hoping the bus was going to stop for long enough for me to jump on (paid today), but think a day or two too late for my liking.

[Snow Leopard]

quote:Originally posted by limegreen

quote:just hit 163

I was hoping the bus was going to stop for long enough for me to jump on (paid today), but think a day or two too late for my liking.

Tomorrow, Friday 1st Oct is the record date for the 6cps (no imputation credits) dividend. Maybe you will be able to pick some up for a song after that.

Personally I think if you can get them at 162/163 they are still a good price, but it is your money.

[limegreen]

Yeah. See that's what I can't work out. Buy today with Divi, or tomorrow ex.

Actually, general question, as I don't entirely understand the finer points of dividends. Will I end up with tax to pay on an unimputed dividend?

[Snow Leopard]

quote:Originally posted by limegreen

Yeah. See that's what I can't work out. Buy today with Divi, or tomorrow ex.

Actually, general question, as I don't entirely understand the finer points of dividends. Will I end up with tax to pay on an unimputed dividend?

Yes.

Dividends come with between no and full imputation credits depending upon the companies tax history and ownership.

The full income 'worth' of a dividend is the stated dividend as paid to you plus the imputation credit which is the tax the company has already paid on it.

In this case there is no imputation credit is the gross amount is 6cps
and you should pay tax on it at your rate 19.5%/33%/39%.

Next year Feltex expects to have about 52% imputation credits on its dividends (having paid some tax in the meantime) so if we assume they deliver on the 13cps over the year there will be about 4cps imputation credit so the gross is 17cps. You will need to pay the difference between the 4cps paid and the tax amount at your rate of tax.
Further down the field when we are on full imputation credits then the company has paid tax the tax at 33% (the company tax rate) on the dividends.
If you pay tax at 19.5% you can claim some of that back from the IRD [].
If you pay at 33% then all is square. [|)]
If you pay at 39% then you still owe a bit

That is a quick overview. Don't talk the figures as gospel. Do your own research. E&OE. etc