Annual Meeting Visit and Scones report
Quote:
Originally Posted by
Waltzingironmansinlgescul
i hope so, wonderful term deposit replacement.
I think that's hits the nail well and truly directly on the head.
I attended the annual meeting at the RNZYS at Westhaven marina this afternoon and struggled to stay awake to be honest. This must be the most boring company I own and so predictable.
One of the few property companies to provide guidance at the same level for the forthcoming year as for the previous year, (lots of talk and excuses from others like KPG and GMT why their dividends have to be cut and caveats regarding future dividends).
Driving home I reached the exact same conclusion as you have. Many people will be like me and have taken a conservative approach to riding out the effects of Covid 19 by selling some shares in February / March and putting the proceeds on term deposit for 4-6 months and will be faced with ~ 1.75% term deposit rollover rates, less tax which for many will mean a net return of just 1.17%.
Or...there's ARG with its 5.0% PIE yield which is non taxable in shareholders hands. There might be another green bond issue later this year, (I asked at the annual meeting), but I think that's likely to be circa 2.5 - 3.0% and that's taxable income in bondholders hands.
Disc: This share bores me to tears...but its good to have something really boring and predictable in your portfolio. I am favourably inclined to add some more when my term deposits mature in the next couple of months. I will not invest in term deposits for a net 1.17% return and accept the OBR risk that goes with that for such a woefully pathetic return that will not even keep up with inflation.
The scones were very fresh but refreshments otherwise were unremarkable. America's cup looks good in its case at the RNZYS. Hope its there this time next year :)