Is it true though? :mellow: Did you participate in the CR? Were you waiting for the EQC settlement?
Printable View
Is it true though? :mellow: Did you participate in the CR? Were you waiting for the EQC settlement?
Insiders buying more. Blair with another 90,000...
https://www.nzx.com/announcements/372899
that seems correct - nothing attached to the 2.5 cps coming up
FY Accounts 2019 & 2020 (Sep 30) both have closing imputation credits at $271K so no tax being paid
to allow for credits to be attached from what I can see ..
I dont know if credits were attached in days before dividend was suspended as Div history
doesn't show up on NZX site - so it must be at least 3 years since a dividend was paid by TWR
Others may know when last div was paid out
Imputation credits attached make quite a difference to Gross Div Yield
See my earlier post on the tax losses recorded in the TWR September 2020 financial statements. As noted, it is likely to be at least three years before TWR moves back into a tax paying position and will therefore generate imputation credits to attach to dividends.
With the dividend you need to keep in mind that the company is sitting on close to $100m of excess solvency margin (which will increase further next year). On the assumption that this capital is either returned to shareholders, buyback of shares or used to fund earnings accreditive acquisitions, you can expect earnings per share and hence dividend yield to increase 50% from current levels in future (and this is before any normal growth). This is a deep value play (I note comments from Balance re this sector are valid, however in my view the risk/reward stacks up well here).
Management have bought and continue to buy meaningfully large positions. They see the value and back themselves to deliver the growth over the medium term.
I still expect however that Bain will be trying to shop this around and it will be subject to a takeover.
Who just sold around 3 million shares at 70c?
https://www.nzherald.co.nz/nz/weeken...MCCDI33PUX6DE/
Probably more ‘abnormal event’ claims to hit the insurance sector and Tower.
Thing is, these abnormal events are normal and realistically, insurance companies have to keep cranking up premiums as high and as fast as they can to ‘weather’ these events.