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  1. #61
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    Good result from SKT.

    NPAT up 16.8%,

    Final div 10.5cps, Special div of 25cps. No reason for Special div given in the abbreviated report that we get from NZX.

    SP up 15c today.

  2. #62
    percy
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    Quote Originally Posted by macduffy View Post
    Good result from SKT.

    NPAT up 16.8%,

    Final div 10.5cps, Special div of 25cps. No reason for Special div given in the abbreviated report that we get from NZX.

    SP up 15c today.


    Very pleasing result.Special divie a nice surprise.[maybe Rupert needs the cash ]

  3. #63
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    Here's the company's rationale for paying the special dividend.

    "Chief executive John Fellet said the Sky board had been conservative on dividends policy in the past, especially after the global financial crisis.

    "There have been other times we could have given a bigger dividend but we kept a reserve. We feel a bit more comfortable about the market now," he said."

  4. #64
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    Doesn't look like anyone has posted on SkyTV in a while.

    ComCom has approved Igloo but is looking at internet deals.

    With todays price crash I think it is a buy? Anyone actually follow this one?
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  5. #65
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    Quote Originally Posted by snapiti View Post
    I believe with the axing of standard tv reception in Sept 2012 there will be a big boost to subscriber numbers
    Why? Because people have to buy a box, they decide to upgrade to sky? Otherwise, Freeview is better than standard TV and most new TV's come with freeview built in so peopel may actually opt out of Sky.

    Being a Tivo user, I cnat image anyone would go back to live tv once they have had mySky or Tivo.

    Internet TV doesn't worry me to much as Sky has all the good content. Illegal downloaders will still be as prevalent as in the past.
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  6. #66
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    Sky TV's price has crashed for the same reason that Chorus's share price crashed and Telecom before it. And Meridian, Genesis, Mighty River, Contact and Solid Energy will after it. And more that we cannot yet guess at.
    Until the Government brings ComCom under control NZ is no place for investors. Its the beginning of the end of the NZX and NZ having a sharemarket. Australia under Labour and Julia Gillard/Swan is a friendlier place than NZ under ComCom regardless of what stripe of government we have!

  7. #67
    Senior Member pierre's Avatar
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    Hmmm - so the Todd Family has sold out of Sky. In my experience (I've worked in businesses owned or supplied by them) they don't make major moves wthout a damn good reason.

    I wonder what dark clouds are on the horizon for Sky? The Todd's usually have a pretty long telescope - and their vision is generally spot on.

  8. #68
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    Quote Originally Posted by pierre View Post
    The Todd's usually have a pretty long telescope - and their vision is generally spot on.
    Thats what i thought when i followed them into Provenco.
    Thankfully i had the sense to get out without too much damage

  9. #69
    Senior Member Halebop's Avatar
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    Quote Originally Posted by pierre View Post
    I wonder what dark clouds are on the horizon for Sky?
    In an environment where customers have access to online streaming services (both legal and not) it seems probable that some combination of retention, margin and/or growth would be impacted. While Sky may transition to a model that copes with this, it seems likely it will also add complexity and cost in the interim. I find enough uncertainty with future prospects to avoid.

  10. #70
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    Special dividend 32 cents Woooow

  11. #71
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    Quote Originally Posted by Jim View Post
    Special dividend 32 cents Woooow
    Good news indeed for shareholders Jim. I am not a holder but was meaning to a couple of months ago but decided instead to buy an apartment in Europe. Time will tell which was the better investment !

  12. #72
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    The reference to paying the special dividend to payout IC's (as opposed to surplus cash) must signify that they expect a sell down by News Corp (note: if News Corp sold, all IC would be forfeited).

    There have been rumours so this indication by the board can only cement them??
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  13. #73
    Adventurer Silverlight's Avatar
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    Quote Originally Posted by CJ View Post
    note: if News Corp sold, all IC would be forfeited.
    Hi CJ, can you expand on that, why would the credits be forfeited?

    Are there rules with the IRD and tax credits becoming defunct when there are changes in ownership greater than a certain percent?

    thanks
    ~ * ~ De Peones a Reinas ~ * ~

  14. #74
    Adventurer Silverlight's Avatar
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    Did some digging found the answer

    Quote Originally Posted by IRD Website
    Change of shareholder continuity

    Imputation credits can only be passed on to shareholders if at least 66% of the company’s voting rights and/or market value interests haven’t changed hands, from the date the credits arose in the ICA to the date when they are passed on to the shareholders—see page 18 for special rules for qualifying companies.

    Shareholders’ economic interests in a company are generally measured by reference to their direct and indirect voting interests in the company. In certain circumstances the shareholders’ economic interests in a company will also be determined by the market value of interests in the company. This happens when the voting interests don’t reflect the true economic interests held in the company. For more information about this, see our Tax Information Bulletin (TIB) Vol 3, No 7 (April 1992).

    If a company’s shareholder interests change by more than 34%, the company has lost shareholder continuity. In this situation it must enter a debit in its ICA to eliminate any unused credit balance.
    ~ * ~ De Peones a Reinas ~ * ~

  15. #75
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    Quote Originally Posted by Silverlight View Post
    Did some digging found the answer
    Thats the one. There are rules so you can pretty much ignore movements between small (<10%) shareholders.

    But Todd sold out 10% so only need another 23%ish to sell, News Corp owns 40%ish?? so if they sell they are gone.

    Normally if the transaction was orderly, a special dividend would be paid just prior. So preempting it suggests a non orderly rushed transaction??
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