MCY Mercury NZ ( MRP Mighty River Power)

No one seems to be posting any more on the thread entitled "who's in for the Mighty River Power float. Any investors want to blog about ongoing prospects for MRP?

MRP price expected face pressure with the looming of meridian ipo, but actually last couple weeks the price seems strongly recovered from all-time low $2.16, bought few more at $2.17, interesting to see what's going on when meridian ipo started, decided to buy into all up coming SOE ipo.

Divvies being paid on Monday, funny to see a little uptrend over last week to $2.30.

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The Board has declared a fully imputed final dividend of 7.2 cents per share (cps), in line with the IPO forecast and paid less than five months after listing. This brings total dividends declared in FY2013 to $168 million (or 12cps), which represents a gross dividend yield of 6.7% on the IPO price of $2.50.

For the coming financial year, FY2014, the Board remains comfortable with our IPO forecasts of significant growth in EBITDAF, reflecting the earnings contribution from the new Ngatamariki geothermal plant. The forecasts at the time of the IPO also anticipated an 8.3% increase in fully imputed full year dividends from 12cps to 13cps for FY2014. Based on our share price on 20 September, this represents a gross yield of 8.1%.

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Can't complain too much, it's exactly what people calculated it would be at the IPO and then some.

Annual report is what it is: https://www.nzx.com/companies/MRP/announcements/241788

With the Dividends today and the amount of MRP shares I've collected at 2.17. At the current share price I've finally broken even on my initial IPO investment if I sold tomorrow. Pretty happy at the moment hopefully once meridian is done the price may hold at 2.30 for awhile *fingers crossed*

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Originally Posted by PartyPooper

With the Dividends today and the amount of MRP shares I've collected at 2.17. At the current share price I've finally broken even on my initial IPO investment if I sold tomorrow. Pretty happy at the moment hopefully once meridian is done the price may hold at 2.30 for awhile *fingers crossed*

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But didn't the Greens convince us that power companies were making SUPERPROFITS?

Where's all the damn SUPERPROFITS?

Clearly we need a single buyer model......... Hahaha

MRP has just announced a share buyback. Who picked that one?

http://www.mightyriver.co.nz/Media-C...k-program.aspx

Was far far away from my thoughts. Desperate times call for desperate measures eh ! First they hint at dividend increases....and now this. All in an attempt to elevate the SP prior to Meridian float. Wow. Not complaining tho...as have a few.

What happens to the shares they buy ? Are they retired ? Or can they be sold again should the money be needed in the future ? Or used for staff bonuses ?

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Originally Posted by macduffy

MRP has just announced a share buyback. Who picked that one?

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Never saw that coming. Good use of cash, especially if there are insufficient IC's to fully impute.

Will also reduce the 'bonus share' liability on those retail holders who sell. Incremental, but still saves a few bob.

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Originally Posted by RTM

What happens to the shares they buy ? Are they retired ? Or can they be sold again should the money be needed in the future ? Or used for staff bonuses ?

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They have said they will hold as treasury stock, not cancel them.

Another thought.......who will they buy the shares from ? Major holder is the government. 50:50 government and market ? Or just market ? If just market....then ratio of Government owned shares to public will alter. How would they determine price to buy from Government ?

It is an onmarket buy back so only from the Market, not the government I would have thought. Even if the Govt did sell, there is a market price.

I wonder what will happen if the Govt creaps up to say 55% due to the buy backs - will it offload onto the market or hold shoudl there be a future capital raising so that they can be diluted back down to 51%?

Maybe they can buy them back over time with this strategy ? :t_up:

Green Party co-leader Metiria Turei said five months after the listing of MRP shares, promising a golden opportunity for 'mum and dad' investors, the company was buying them back at a loss for investors.

"If Mighty River Power has $50m laying around, its priority should be cutting electricity prices for families and businesses."


You can not be serious. Shows how economically inept the greens really are.

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Originally Posted by blackcap

Green Party co-leader Metiria Turei said five months after the listing of MRP shares, promising a golden opportunity for 'mum and dad' investors, the company was buying them back at a loss for investors.

"If Mighty River Power has $50m laying around, its priority should be cutting electricity prices for families and businesses."


You can not be serious. Shows how economically inept the greens really are.

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Shows how bad her grammar is too.

Let's hope she doesn't notice AirNZ's $1B cash surplus lying around!

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Originally Posted by Zaphod

Let's hope she doesn't notice AirNZ's $1B cash surplus lying around!

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Not really Air NZ cash that $1b .... most of it prepaid travel .... still have to spend a lot of that cash to fly the travellers to wherever

Zonks ago AIR raved about that $1b we have in the bank ... we wont go broke and all that stuff .... then the govt bailed them out eh

Ah so --- does AIR make most of its money from investing all this money then?

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Originally Posted by blackcap

Green Party co-leader Metiria Turei said ... "If Mighty River Power has $50m laying around, its priority should be cutting electricity prices for families and businesses."

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So unfair leaving out the old people...

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Originally Posted by peat

So unfair leaving out the old people...

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Its the first home buyers I feel sorry for!