Contact Energy - CEN Chart

[Harvey Specter]

Article on NBR (paywalled) suggesting Origin may be wanting to sell. The special dividend just being paid uses up the IC's which is a sign. Not sure they would find a buyer for 50% though ($2B worth since markect cap is $4b)

http://www.sharechat.co.nz/article/8...-contact.html?

[GoldenStag]

Article on NBR (paywalled) suggesting Origin may be wanting to sell. The special dividend just being paid uses up the IC's which is a sign. Not sure they would find a buyer for 50% though ($2B worth since markect cap is $4b)

http://www.sharechat.co.nz/article/8...-contact.html?

Could this be why someone seemed to be a big seller of the shares over the period of the bonus dividend announcement? Someone seemed to hold the price down with biggish sell offs. Though I would've thought that, on the face of it, Origin selling out could be a good thing for the share?

[GoldenStag]

NZHerald article here:
http://www.nzherald.co.nz/business/n...ectid=11454565

[Toasty]

This is probably a very obvious question but is it too late to buy in for the special distribution?

[777]

This is probably a very obvious question but is it too late to buy in for the special distribution?

Yes it is too late. They were ex div yesterday. Hence the large drop in price.

[Toasty]

Yes it is too late. They were ex div yesterday. Hence the large drop in price.

Thanks. I saw record date on the investor section of Contacts website saying 10 June so I wasn't sure what that meant.

[limmy]

I think the record date is for their internal procedures only. You should use the ex-div date.

[macduffy]

I think the record date is for their internal procedures only. You should use the ex-div date.

Not really. "Record date" is a formal NZX term for the date at which holdings on the share register will qualify for the dividend, issue etc. Share transfers are settled , and recorded on the register - "settlement date" - three business days following the transaction. "Ex" date is the first day of trading without rights to the div, issue, etc. In this case, Friday the 5th was the last day of trading "cum" div: Monday the 8th was the first day trading ex div; Today, Wednesday the 10th is record date for the div.

Phew!

[Harvey Specter]

I think the record date is for their internal procedures only. You should use the ex-div date.

I think record date has to do with settlement times. It needs to be a few days later to account for the trade on the day before ex-date. Not sure why it needs to be reported as it really is just an admin thing I assume.

[Goldendigger]

I'm sick of watching such a price roller coaster and knowing I could've bought and sold a few times to make a few gains. - timid buy and hold investor.