Chris, whatever else, this is a monopoly. Where else do you get your fuel and who would buy it? The major oil companies own the refinery - or 70% of it - If they start buying from independant overseas sources then they kill the goose that lays the golden egg.
The reason why NZR did Future Fuels is that there are very few alternative refineries in the region that can meet the new NZ standard. Although you are correct that there are a number of new refineries in china but to a lower standard.
So Craic is right about a reinforced monopoly. That is the significance of the pipeline as well.
When they get some co-generational deal to secure reasonably priced long term power then this is a safe long term share to put in the bottom draw.
Back up 100 cps to 3300 cps and this miust be just days before a result is published? They usually pay out end of March beginning of April. Last year the announcement was made on 26 February. Maybe the tea lady is getting in early
I think it is more than likely that the tea lady has read the morning newspapers and looked at the BP and Shell articles stating that they have made a killing on the back of high refining margins.
Not a good start to the year in regards to reliability though... heard that they ran out of juice... and then they had a couple fo oil spills into the harbour too...
Not that good when the crowd down the road are looking at putting in a coal fired power station. The greenies will be chasing this one I think...
Chris
Chris
Whangarei
Am I a pro trader or just a try hard wanna be...
Just checked a December press release and a divi announcement is planned for 24 Feb:
"At this stage a modest increase for the dividend is anticipated ..."
Given that the last four divs have been 50, 60, 60 and 100 cps, but that the share price has doubled, I wonder what "a modest increase" means?
If it is a similar div to share price proportion that is modestly increased, could we anticipate 210 cps? I rather think not, but good fun dreaming...
Sept 02 = 100 cps
Mar 03 = 50 cps
Sept 03 = 60 cps
Mar 04 = 60 cps
Sept 04 = 100 cps
This is as far as my records go, and if it ain't correct, my records are wrong... [:0]
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