.65 Another all time high ! slowly and steadily does it .
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.65 Another all time high ! slowly and steadily does it .
I am completing the third leg of the NZ finance trifecta, by looking at the historic performance of Geneva as an investment over a two year period.
I have just done an exercise checking out returns over the '30th September to 30th September' year. Why those dates? Because it gives time for the March 31st end of year result to be declared and digested by the market.
Share Price Sept 30th 2015 Sept 30th 2016 Sept 30th 2017 Geneva Finance Limited $0.31 $0.41 $0.58
Income Received Sale of Rights CY Q2 Dividend (earned previous year) CY Q3 Dividend (earned previous year) CY Q4 Interim Dividend 2015 2016 1.5cps 2017 2.0cps 1.0cps 2018 ? cps
Notes:
1/ Financial Year Ends 31st March.
2/ Income received in italics not earned in period following 30th September under consideration.
Overall Share Growth 30/09/2015 to 30/09/2016
$0.31 (1+g) = ($0.41 + 0.72x$0.015) => g = 36%
Overall Share Growth 30/09/2016 to 30/09/2017
$0.41 (1+g) = ($0.58 + 0.72x$0.02) => g = 45%
Those are pretty impressive growth figures. No wonder you shareholders are smiling!
SNOOPY
Another good half years result and its divi up 25% .
More good news for 2020
Geneva Finance Half year pretax results up 44%
Goodness - Yet another Unimputed Dividend
http://nzx-prod-s7fsd7f98s.s3-websit...362/372361.pdf
You'd think that sooner or later the Income would unaccrue itself, resulting some tax being paidQuote:
Source: Accrued Income
so Dividends could start accumulating some fragments of Imputation Credits, or is it too early ?
The deferred taxation asset has been reduced to $3.0m at 31 March 2021. That's going to require slightly over $10m of pre-tax profits to fully utilise. With a Pretax profit of $8.2m in the year to March 2022 so its likely to be more than a year to go of no imputation credits. It could be longer if there are still some additional off-balance sheet tax losses.
However, with your skills I'm pretty sure you already knew that as there were taxation assets on the balance sheet.
I haven't seen the latest AR but the 2021 AR had tax losses carried forward of $9.9m and zero imputation credits (per note 22 on page 37). I doubt they used all the tax losses in the latest financial year so we might see some taxes being paid and partial imputation credits on dividends in the year ended March 2023 at the earliest and possibly full IC's on dividends in the year ended March 2024.
Edit: Sorry for the duplicated answer - I saw Scrunch's reply after I posted.
Times seem tough in Geneva land
Half year profit down 17%/20% on last year
http://nzx-prod-s7fsd7f98s.s3-websit...808/406172.pdf
The old release bad news at 5pm and hope nobody notices trick