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  1. #2051
    On the doghouse
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    Quote Originally Posted by Ferg View Post
    The second pillar revolved are around the impact on the individual shareholder. The company puts unimputed dividend of $1 into the shareholders pocket. Under my way of thinking, the tax of 30c is paid from the $1 in the pocket and the shareholder received a partial "return of capital" of 70c.
    You are viewing an unimputed dividend as a return of capital which is taxed as a result of ending up in the shareholders pocket (the first pocket). I understand and agree with that way of looking at things.

    Quote Originally Posted by Ferg View Post
    Under your method, the tax of 30c is taken from a second pocket. The $1 in the first pocket is ignored, but the 30c taken out of the second pocket is deducted. I view that as inconsistent, despite the fact (and I acknowledge) the tax is paid to an entity outside of the circle of shareholder + entity.
    I think what you are saying here is that by subtracting the imputed part of the dividend from the total dividend and effectively ignoring the imputed bit, I am effectively saying that the imputed part of the dividend does not exist. Therefore I should not take tax out of a dividend that I am claiming was effectively never paid in the first place?

    However, I do not have this interpretation of what happened. I am not saying that the unimputed part of the dividend was not paid. I am saying it was paid but it had no cash benefit to the shareholder. If fact quite the opposite. The paying of the what is in effect shareholder capital back created a tax bill, which I think you acknowledge in the first part of your post that I have quoted.

    SNOOPY
    Last edited by Snoopy; 28-02-2021 at 10:18 PM.
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  2. #2052
    On the doghouse
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    Duplicate Deleted
    Last edited by Snoopy; 01-03-2021 at 08:10 AM.
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7

  3. #2053
    Junior Member
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    Share Offer Question. Do the shares issued under the Share Offer also get the dividend payable on the 30th March? Offer document seems to say so in so many words which created a doubt in my mind.

  4. #2054
    Missed by that much
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    Quote Originally Posted by Snoopy View Post
    …...

    .....who holds CEN shares, bought at a price significantly less than $6.04!
    I have a few bought at $0.01

  5. #2055
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    How many are taking up the offer? I am considering it.

  6. #2056
    Ancient Mariner HKG2301's Avatar
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    Quote Originally Posted by theace View Post
    How many are taking up the offer? I am considering it.
    Will wait to see how the SP fares this week...

  7. #2057
    Veteran novice
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    Quote Originally Posted by HKG2301 View Post
    Will wait to see how the SP fares this week...
    Don't forget that if the SP goes below $7, so will the issue price - to some degree.

    I'm adding a few.

  8. #2058
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    Quote Originally Posted by macduffy View Post
    Don't forget that if the SP goes below $7, so will the issue price - to some degree.

    I'm adding a few.
    Below 7.18 by my calculations. The lower of 2.5 percent discount of this weeks VWAP and 7 dollars will be the issue price.

    In my way of thinking, the institutions who participated in the cap raise would also want to buy this week to prop the price up, help protect their investment.

  9. #2059
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    “deleted. “
    Last edited by Master98; 02-03-2021 at 10:06 PM. Reason: question answered.

  10. #2060
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    Quote Originally Posted by Ahgong View Post
    Share Offer Question. Do the shares issued under the Share Offer also get the dividend payable on the 30th March? Offer document seems to say so in so many words which created a doubt in my mind.
    Yes, according to page 21 of the offer document:

    10.1 Offer Shares issued under the Offer will rank equally with, and have the same voting rights, dividend rights and other entitlements as, existing fully paid Shares quoted on the NZX Main Board and the ASX. Eligible Shareholders will receive the biannual dividend for the six months ended 31 December 2020, which is expected to be paid on 30 March 2021 in respect of any Offer Shares allocated to them under the Offer.

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