Except it wasn't a political gain. The only people to gain were those who ignored the Labour/Green policy statement.
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:) yeah i was weakening a little in my resolve as well. Watching closely as div nears.
What's up with sp? Is irrational exuberance finally being overtaken by common sense fundamentals?
Looking at the MELCA upcoming divi on the NZX site:
Ex Dividend Period Amount Supp. Imputation Payable Currency 27/03/2015 Interim 4.800c 0.850c 1.870c 15/04/2015 NZD 27/03/2015 Special 1.400c 0.250c 0.540c 15/04/2015 NZD
What does Supp. Mean? And what do I end up with in hand?
Let the games begin - "Questions linger over profitable Tiwai Point smelter's value, Rio Tinto says." http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11414253
Still a bit confused as to what will happen when the 50 cents payback time comes around. At present I have the 50 cents earning interest elsewhere. When I pay it back to the government as a MELCA shareholder, it no longer earns me anything and would, in effect, drop the worth of by shares by 50 cents. Wouldn't need to jump in price by 50 cents at payback time to justify hanging on to them, instead of selling now and buying when the dust settles. Is there a more optimistic way of looking at this?
They may be selling for 2.5 billion more but it doesn't mean they are worth that much, at over $2 this excellent company has reached dangerous levels of overvaluation due to shareholder exuberance.
I was buying MELCA at $.90 but I sold out and left it to the speculators. The PE ratio is now around 30 with a PB ratio of 2 and the company has no growth prospects.
I swapped for TPI on the ASX which is a similar utility type stock but now selling below book with a PE of 20 but does have a prospect of growth. Its dividend is only 3% which is preferable to MELCAs highly dodgy paying out of free cash flow scam.
As if the assets don't need to be replaced.