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  1. #3201
    Legend minimoke's Avatar
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    6,502

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    Nice bit of cash rolling in - lets hope its not at the expense of a downwards spiralling SP

  2. #3202
    Senior Member
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    May 2018
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    Quote Originally Posted by minimoke View Post
    Nice bit of cash rolling in - lets hope its not at the expense of a downwards spiralling SP
    Surely not!

  3. #3203
    Guru
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    Wellington, New Zealand
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    So we go from 3,3,4.5,5 (15.5)

    to 4,4,4,5 (17)

    Yeah I can live with that.

  4. #3204
    percy
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    Quote Originally Posted by Beagle View Post
    TRA
    08/10/2018 10:01
    CORPACT
    PRICE SENSITIVE
    REL: 1001 HRS Turners Automotive Group Limited

    CORPACT: TRA: TRA declares higher quarterly dividend/re-affirms guidance

    8 October 2018

    Turners declares higher quarterly dividend and re-affirms guidance

    The Board of Turners Automotive Group Limited (NZX: TRA) has declared the
    first quarterly dividend for the 2019 financial year of 4 cents per share,
    fully imputed, with a record date of 23 October 2018 and a payment date of 30
    October 2018.

    In addition, the Board advises that it expects to declare a further two
    quarterly fully imputed dividends of 4 cents per share in January and April
    2019, followed by a fully imputed final dividend of 5 cents per share in July
    2019.

    Chairman Grant Baker said: "The ongoing positive performance of Turners
    Automotive Group allows for increasing distributions and we are targeting a
    minimum FY19 full year dividend of 17 cents per share (up 10% on FY18). Based
    on a share price of around $2.90, this represents an annualised yield of 5.9%
    fully imputed."

    This dividend payment profile is consistent with the Company's policy of
    paying dividends totalling 50% to 60% of Net Profit after tax to shareholders
    and enables the company to balance the twin objectives of providing
    consistent and reliable dividend returns to shareholders and ensuring
    sufficient profits are re-invested in the business to underpin future profit
    and dividend growth".

    At the recent Annual Meeting, the Board reaffirmed its previous profit
    guidance for FY19 of a Net Profit before Tax of between $34 million and $36
    million, the mid-point representing a 13% increase over FY18.

    Turners CEO, Todd Hunter, said: "Turners has never been in better financial
    shape, with a conservative equity ratio and an improved diversified funding
    platform to support growth. The investments we are making into people,
    property and our businesses will deliver further benefits in the second half
    and we are seeing positive momentum in the company. Our confidence in our
    strategy and long term prospects remains at high levels."

    ENDS

    About Turners
    Turners Automotive Group Limited is an integrated financial services group,
    primarily operating in the automotive sector www.turnersautogroup.co.nz

    For further information, please contact;
    Todd Hunter, Chief Executive Officer, Turners Automotive Group Limited Mob:
    021 722 818
    Media Liaison and Assistance: Jackie Ellis, Mob: 027 246 2505
    End CA:00325001 For:TRA Type:CORPACT Time:2018-10-08 10:01:04
    Well done the Turners team.

  5. #3205
    percy
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    christchurch
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    Quote Originally Posted by blackcap View Post
    So we go from 3,3,4.5,5 (15.5)

    to 4,4,4,5 (17)

    Yeah I can live with that.
    Me too....lol.

  6. #3206
    Speedy Az winner69's Avatar
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    Seems $2.90 odd is a fair market price which Baker comfortable with.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  7. #3207
    Legend minimoke's Avatar
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    Quote Originally Posted by Timesurfer View Post
    Surely not!
    A years worth of divis might make up for the loss I am currently carrying.

  8. #3208
    Banned
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    Nov 2013
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    8,516

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    Quote Originally Posted by percy View Post
    Me too....lol.
    I'm buying more.

  9. #3209
    Banned
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    Nov 2013
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    Quote Originally Posted by minimoke View Post
    A years worth of divis might make up for the loss I am currently carrying.
    HaHa better than my Air holding where it will take a year and a half worth of divvies at current price to break even, that's the market. PS-Now have a nice round number of shares in TRA and we'll and truly positioned at the sunny end of the tent along with Percy.
    Last edited by couta1; 08-10-2018 at 10:20 AM.

  10. #3210
    Advanced Member
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    Apr 2008
    Location
    Kerikeri
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    2,468

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    Quote Originally Posted by winner69 View Post
    Seems $2.90 odd is a fair market price which Baker comfortable with.
    “on a share price of around $2.90, this represents an annualised yield of 5.9%
    fully imputed." “
    That’s one interpretation Winner. Personally I think that share price will increase to make the dividend lower...say 330 or 340. As long as the business continues to do well.

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