Yes miles away.
If you are happy not receiving ongoing growing dividends,then HBL is not for you.
Maybe Berkshire Hathaway would suit better.
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Maybe we should get Snoops to do one his famous Buffett type tables as to see what generates greater return for shareholders over the years assuming a consistent ROE but with different payout ratios.
Think you are best to send him a PM .!!!!.....lol.
In reality investors must decide where to allocate their capital.
We have companies such as HBL and RYM.Both have ROE of over 10% and yet have very different dividend payout ratios.
Each company retains a certain % of profit to reinvest in their business.
It is very doubtful that investors could earn more than those companies', over 10%,so investors would be better to take no dividends from either company.
Yet the directors of both companies realise that in NZ ,very few investors would invest in them should they pay no dividend,
Over the past few years were have seen the market gravitate to high yielding stocks,to the point we have seen some posters on sharetrader, compare HBL with the Australian banks, solely on yield.I would think the directors of HBL are fully aware of this,and decide of dividend payout ratios taking that in mind,as well as their desire to grow the business.
Softness????????????????
I have been surprised by the share price strength.!!!!!!!!!!!!
Got down to $1.56 in the last few days at one point I think Percy. Strength is relative...has been hovering around $1.50 for many, many months so the recent spurt up to $1.60 was probably overdue.
$1.59-$1.60 feels about right to me...for now :) Onward and upward... $1.80 by Christmas !
Just filled in the maximum shares of 15k application