and doing it that way the nice Heartland man used to give you a Heartland cap or a new pen
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Supported by the official forecast (without a possible upgrade), now, based on the metrics the Australian peer group I follow is currently trading on (not what they might be trading on 12 months from now as the economy recovers). I am very comfortable and content to hold.
Just the thought of all those young school leavers learning financial literacy in Te Reo gives me all the daily dose of ESG feel good factor I need :D
Why would you say that? With guidance of ~$85 million net income (and growing), I think the current $1.1 Billion market cap is well below a logical valuation.
regardless, I'm in this for the juicy ongoing dividend once the handbrake is released, rather than any capital gain.
Heartland now trading at 1.5 times Book Value
Significantly higher than most Aussie banks
Earnings is what matters...HGH got around double the net interest margin of some of the peer group I follow. Plus all the ESG stuff you love and for the rest of us there's just the "minor" matter of the fully imputed dividends. (No Australian bank can impute dividends here to any reasonable level). What to do with that forthcoming dividend ?...DRP applies, (problem solved).
Is the RB handbrake still on NZ Bank dividend distributions ?
Yes, reviewed end next month.
HGH indicated at time last dividend paid based on Aussie Reverse Loans biz surplus alone - that they anticipated 'making things up'
once the straight jacket was off - didn't they ?
Next HY Report & dividend could be the one to watch IMO
At that time the immediate next period post Covid trading gains will be coming out properly in the wash too
- so the real gainers. maintainers & retreaters etc should then be more visible
For my money the jury on HGH is not done just yet .. possible top up opportunities ahead too ;)
One thing today’s update confirmed was that Jeff is a master of managing earnings (and expectations). Whether it’s proactive provision or astute use of the bottom drawer he’s pretty good at thst.
Jeez, we need to book $5.2m increase in the Harmoney stake ...that’ll take our profit close to $50m .....far too high .....so into the bottom drawer he goes and finds some old stuff totalling $1.7m which needs ‘writing off’ ..... but the master stroke was the ‘voluntary accelerated amortisation’ of some intangibles of $4.3m
That reduces reported NPAT to $44.1 ...much more respectable....and the market will love it.
That’s Jeff for you ....and when Jeff says full year will be close to $85m that’s probably what he’ll deliver ....no surprises.
Good guy that Jeff.
If I sell now, do I still receive the divident?
Probably doesn't mean anything but did i read that deposits only increased by 1.9 million.Doesn't seem much but then probably in the wider scheme of things doesn't matter.
According to headline in INTEREST.CO.NZ HLG are mulling over splitting Marac off as a standalone subsidary.
Market does not seem enthused by HGH at all at the moment. Thought the short timeframe to grab the divi would have fired things up ... :confused: