NWF - NZ Windfarms

[turnip]

"Odd" in what way?

Nothing suspicious, only very light volume, but the price had been quite steady trading in a 3% range, and early today trades continued to go through at the top of that range despite going ex 5% div. Why pay $0.144 today when you could have got it for that price or lower with a $0.007 div included any day last week?

It is a surprisingly stable share price compared to other electricity generators. Maybe it is good to be too small to be included in any index sometimes.

[Independent Observer AUNZ]

Nothing suspicious, only very light volume, but the price had been quite steady trading in a 3% range, and early today trades continued to go through at the top of that range despite going ex 5% div. Why pay $0.144 today when you could have got it for that price or lower with a $0.007 div included any day last week?

It is a surprisingly stable share price compared to other electricity generators. Maybe it is good to be too small to be included in any index sometimes.

I see - if the volume was light it may have been some uninformed sharesie investors or similar with open trades. To be fair its a tricky time in the markets right now, can't blame some for having their eye off the ball.

[ratkin]

Upgrade of guidance, turning into a good day

[Arthur]

Profit upgrade. High dividend.Tax losses to use up. Debt being paid down. Renegotiated bank debt at better terms. If this is what a dog looks like I better buy a pound.

[Independent Observer AUNZ]

Shhhhhhhh! This should be our little secret!

[blackcap]

What you all fail to realise is that those in the know would have already been aware of this "Earnings upgrade". You can see how much power is being produced and you also know the price they have contracted for. Unfortunately after the contract is over (about 3 quarters to go) then what is the price they are going to get for their power? Anything below $70 and its tough times again. I may use this opportunity to exit. That said, power prices are remaining stubbornly high so the prospects at Tiwai must be looking good at this stage.

https://www.asx.com.au/asx/markets/f...EA&type=FUTURE

[Arthur]

Thanks Blackcap. My back the envelope suggests their cashflow breakeven is dropping quite rapidly. I suspect that they may be negotiating extensions to the current buy all agreement. Cable constraints should give some hedge to NI providers when Rio pulls the pin. I think that there is a possibility that the Government might by the smelter at at opportunistic cost with free money.

[Arthur]

Any idea why they have not bought back any shares? Debt is being paid down, cash is flowing in and more efficient for shareholders than dividends from a tax perspective.

[nztx]

Any idea why they have not bought back any shares? Debt is being paid down, cash is flowing in and more efficient for shareholders than dividends from a tax perspective.

Perhaps they are conserving Ca$h for our upcoming May dividend ?

[Arthur]

Cash coming out their ears at the moment. Debt rapidly being paid off and they could have $6 million in cash by the end of June. Buying 5% would be under $2 million.