Always happy to help whenever I can mate.
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Always happy to help whenever I can mate.
Well for an illiquid "junk bond" there has certainly been "respectable" volume being traded.
The price has moved from 68cents,when I brought on the 7th October to 73cents today.7.35%.,or 2.45% a week. Nice.!
May have to look at more bonds,or do I put it down to beginner's luck? lol.
Ditto here lol. Thankyou to Lizard.
Today's announcement that The Commerce Commission has abandoned its cross-appeal in the Sport Zone case comes as no surprise.
MTF and SportZone's appeal is set down for 19-20th November.
News out today. NZX announcement for MTF update on Sportzone Case
https://www.nzx.com/companies/MTF/announcements/257831
I note "the aggregate amount for 39 Sportzone fees is less than $10,000" or about $250 per loan.
"MTF considers that those judgments are incorrect.". The judgement is subject to appeal.
What was the outcome of the court case? Current yield is down to 12%.
Thanks Percy.
From http://www.mtf.co.nz/pdf/investors/2...ual_report.pdf
The dividend rate is set annually, at 2.40% over the one-year swap rate, and was reset at 6.26% (2013: 5.32%) on 30 September 2014, for the
twelve months to 30 September 2015.
And from the notes;
perpetual preference shares
Perpetual preference shares are classified as equity. The shares are non-redeemable and carry no voting rights.
Dividends are not guaranteed and are payable at the discretion of the directors. Any dividend is recognised as a
distribution within equity.
perpetual preference share dividend
fully imputed dividend declared and paid during the year (net) at 3.83 cents per share (2013:
3.58) 1
I calculate the current gross yield = 8.5%. I had previously assumed that the dividend of 6.25c was net. However, it is gross.
My quarterly dividend statement arrived so I can calculate the net div and Imputation credits per share.
Net Dividend = .0457
Imputation Credits = 0.0165
Total = 0.0625c
This is consistent with the announcement that the reset rate = 6.25%
http://stocknessmonster.com/news-item?S=MTF&E=NZSE&N=255897
Yield = 0.0625/.735 = 8.5%