I believe it will in the next few days
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Finding a bit of traction this afternoon, I'm expecting a modest/safe result on Thursday and no divvy.
It’s only the divvy that keeps this above water, with such a weak sp, testing my patience for sure. If I had any fortitude with this company maybe I should buy the yield now, but with the uncertainty over the divvy and the forthcoming depression, maybe quit now. Unsure 😐 I’ve never quit at a bottom and I don’t think heartland is going out of business, but it better show some resilience or I won’t be by myself at the exit. Cut your losses or buy the future, big call with heartland imo atpit
No market update seems to confirm that the result will be in line with previous guidance. And the last guidance we did see specifically mentioned
"The prohibition does not prevent Heartland from paying dividends to its own shareholders, and Heartland continues to consider whether it will pay any final FY20 dividend. Heartland's decision will be announced at the time of Heartland's FY20 results announcement. "
I am expecting a result in the high $70s and dividend will be paid, although much reduced.
Why are Heartland announcing this new funding arrangement just two days before they release their annual result? Why not hold off just two more days and let shareholders have the big picture from all angles? The cynic in me suggests they are going for the pump (to get the cash issue price higher) before the annual announcement arrives as a dump. I hope I am wrong. But Jeff is surely too clever to not stage manage the release of the Heartland result like this.
SNOOPY
Under the continuous disclosure rules, material matters have to be announced immediately to the market. It doesn't matter whether the annual result is due in 2 days or 2 months.
We have some growing on our farm...the locals of a certain ethnicity help themselves to it...ask me if I care lol
Anyway back to HGH. Got to admit I am confused despite the other Beagle's attempts to explain it. In line with the new international financial reporting standard concerning doubtful debt provisioning and a much more forward looking stance regarding same we have seen every other bank report results materially affected by this new standard in the context of this Covid environment and its impact on customers and the economy.
HGH have clear obligations regarding continuous disclosure and have a forecast in the market in the late $70m range.
I struggle to see how they can report a result within such a range that's consistent with this new IFRS standard and their continuous disclosure requirements. They must be in breech of one or the other.
In any event I cannot fathom how they can possibly make any sort of reasonable judgement about what bad and doubtful debts will be going forward seeing as Covid and its effects on customers and the economy is unprecedented and any attempt to use previous modelling such as during the GFC might be wildly inaccurate.
They might as well print the entire annual report in Te Reo this year as far as I am concerned.