TRA - Turners Automotive Group [previously TNR - Turners Limited]

[Muse]

Hi Fiordland Moose...if you were on the ASM webcast yesterday someone did ask this question...possibly even you! Grant Baker did answer it and so far has not progressed from discussion into execution to avoid diluting shareholders.

Thanks
Todd

Hey Todd - blown away you've taken the time to respond! No I didn't have the chance to join the AGM (and wasn't me!) but I am pleased someone would ask. I won't press my case on how absolutely awesome & superb & fantastic & awesome a DRIP would be. I hear you on the dilution - I guess all investors have the ability to choose on cold hard cash or compounding shares. Anyway - will let that seed grow. Thanks again for responding. All the best and good luck to you and the team and hope everyone keeps safe.
Cheers

[clearasmud]

Hey Todd - blown away you've taken the time to respond! No I didn't have the chance to join the AGM (and wasn't me!) but I am pleased someone would ask. I won't press my case on how absolutely awesome & superb & fantastic & awesome a DRIP would be. I hear you on the dilution - I guess all investors have the ability to choose on cold hard cash or compounding shares. Anyway - will let that seed grow. Thanks again for responding. All the best and good luck to you and the team and hope everyone keeps safe.
Cheers

I think most shareholders who take the dividends don't want the Drip as it dilutes their Holdings

[Muse]

I think most shareholders who take the dividends don't want the Drip as it dilutes their Holdings

If you elect to take the DRIP - you aren't diluted, and maintaining or slightly increase their proportionate shareholding in the company. If a shareholder decides they prefer cold hard cash to do with what they wish, then they become ever so slightly diluted. BUT - that cash gets reinvested into the company, increasing its cash base and able to generate a return on that investment. DRIP's are very common, and offered by some of the most blue chip listed companies in NZ. Not a biggie I like the cash dividends. But it's a great savings vehicle (excuse the pun). How many times have you as a shareholder thought "hmm I might not reinvest that dividend as the SP is a tad high" only to see it keep going, or even worse, spend it and not reinvest it in anything worthwhile. DRIP's are common, understood and trackable by trackers like sharesight, lower brokerage cost, allow the company to reinvest cash into the business, and not compulsory. It's a nice way to raise small amounts of new capital, particularly those that have finance books or working capital requirements.

Just musings.

[clearasmud]

If you elect to take the DRIP - you aren't diluted, and maintaining or slightly increase their proportionate shareholding in the company. If a shareholder decides they prefer cold hard cash to do with what they wish, then they become ever so slightly diluted. BUT - that cash gets reinvested into the company, increasing its cash base and able to generate a return on that investment. DRIP's are very common, and offered by some of the most blue chip listed companies in NZ. Not a biggie I like the cash dividends. But it's a great savings vehicle (excuse the pun). How many times have you as a shareholder thought "hmm I might not reinvest that dividend as the SP is a tad high" only to see it keep going, or even worse, spend it and not reinvest it in anything worthwhile. DRIP's are common, understood and trackable by trackers like sharesight, lower brokerage cost, allow the company to reinvest cash into the business, and not compulsory. It's a nice way to raise small amounts of new capital, particularly those that have finance books or working capital requirements.

Just musings.

Don't like DRIPs and that's that. Lol

[Nor]

Don't like DRIPs and that's that. Lol

Second that.

[Muse]

Saw this - semi interesting re tra

https://www.wsj.com/articles/everyth...le-11631332812

[RTM]

Second that.

Might be OK when you're young and don't need the dividends.

I got disappointed with them with Heartland. I was in the DRP for a while...and it seemed after every dividend there was an opportunity to buy at less than the DRP price. So I pulled out.

[Biscuit]

Saw this - semi interesting re tra

https://www.wsj.com/articles/everyth...le-11631332812

Link not much use unless you subscribe to the wall street journal. I gather the idea is that car sales are moving online and large corporations are cleaning out the little guys. I guess that is a trend that would be good for TRA?

[winner69]

UK online car dealer / financier Cazoo (seem to operate much like Turners) has a market cap of US$7.8 billion and they are hoping to do US$0.7 billion in revenues this year. Both use the words digital and fintech a lot

Turners on same multiple would see a share price of nearly $40

Maybe they need to join the NYSE as well

[Biscuit]

UK online car dealer / financier Cazoo (seem to operate much like Turners) has a market cap of US$7.8 billion and they are hoping to do US$0.7 billion in revenues this year

Turners on same multiple would see a share price of nearly $40

Maybe they need to join the NYSE as well

Turners need to refine/prove their model and start moving globally. No point to being a large fish in a small pond. They've got to get out of the goldfish bowl and the sooner the better