Napier City Council don't own anything in the port. That's the hawkes Bay regional council you are trying to talk about.
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Joins the NZX50 at close of business today. Might get a boost from that.
Another update with cargo n containers down....
We will see how the market react today
https://www.nzx.com/announcements/356234
Yes...not surprising.
how the market cap of NPH is nearly $700m when FY20 NPAT is only expected to be $20m (and FY 21 probably not much better) and no dividend is proposed is beyond me... (that's a PE of 35 for little growth, and no dividend!)
https://www.nzx.com/announcements/358576
But the share price will remain steady......... Then who knows it might actually drop?? I feel with this announcement it seems highly overvalued unless you want to hold longterm
No dividend ? Really ? Where did you get that from TJ ?
“As advised with our half year results announcement, a decision on the final dividend will be made by the Napier Port board in conjunction with the full financial year result and outlook in November 2020. The board’s intent is to pay a final dividend in respect of the 2020 financial year result, in accordance with our stated dividend policy, subject to developments and the economic outlook at that time.“
Apologies, I interpreted it as a continuation of the thinking at half year - which was to not pay a dividend.
However, with the expansion of 6 Wharf beginning, the previous (prospectus) thinking was dividends could still be paid from free cash flows (still expected to be okay due to growth from increased cargo volumes and pricing over time - this now doesn't look to be the case) so the board might have the best but I still don't know how prudent it would be to pay any dividend at full year, except maybe a few cents (say 3 cps) at best - 3cps is less than 1% yield at a current share price of $3.50 ish... you'd have a higher yield with cash in the bank!