Originally Posted by
Roger
When I first started out in the Accounting profession in 1980 I stumbled across a note on one of the partners desks regarding a conversation he had with his stockbroker. it read NZOG strong buy at $1.40. Lesson, people can B.S. you all you like about growth this and expansion that, blah, blah, blah, I am sure we have all heard it countless times before from many companies, but paying out half your profit when it comes keeps Directors honest and keen. According to the Reserve Bank inflation calculator $1.40 in 1980 should be worth over $6 now.
Since 1980 I think they've paid four dividends.....I rest my case regarding the merits of dividends...