SUM - Summerset Group

[BlackPeter]

I think he means that of the 15.4m that was paid out in dividends 30% was reinvested back into sum through the DRP?

Correct - cheers.

[BlackPeter]

Cash paid out for dividends shown as $5.3m in FY13 accounts and $7.0m in HY14

The $7m in HY14 accounts is last years final dividend and suggests a pretty low DRP uptake

Hi winner, you really need to look a little bit deeper. Of the 7 million paid out in 2014 nearly 2 million have been reinvested using the DRP and creating nearly 600k new shares. So yes, they pay out between 30 and 50% off the profit - and off this payout roughly 30% come back through the DRP. Clear like mud now?

[winner69]

Hi winner, you really need to look a little bit deeper. Of the 7 million paid out in 2014 nearly 2 million have been reinvested using the DRP and creating nearly 600k new shares. So yes, they pay out between 30 and 50% off the profit - and off this payout roughly 30% come back through the DRP. Clear like mud now?

So to summarise $7.0 in cash paid and $1.8m in shares

gives about 20% of dividends reinvested back through DRP

[BlackPeter]

So to summarise $7.0 in cash paid and $1.8m in shares

gives about 20% of dividends reinvested back through DRP

Oh dear .... still feeling the hangover from your "kill-CRP" celebration?

2014 September
$M 3.05 dividends (1.4c)
275k shares reinvested @ $2.9131 = 0.8 M
2014 Sept reinvestment rate = 26%

2014 March
$M 7.1 dividends (3.25c)
586 k shares reinvested @ $3.388 = 1.99 M
2014 March reinvestment rate = 28%

2013 March
$M 5.37 dividends
1.099 M shares reinvested @ $ 3.388 = $M 3.72
2013 reinvestment rate = 69%

Note: numbers rounded ....


So - yes, I guess we can see that the reinvestment rate dropped in 2014 compared to 2013 (no wonder given the SP issues and all the negative publicity), but still not sure where your 20% come from?

[winner69]

Oh dear .... still feeling the hangover from your "kill-CRP" celebration?

2014 September
$M 3.05 dividends (1.4c)
275k shares reinvested @ $2.9131 = 0.8 M
2014 Sept reinvestment rate = 26%

2014 March
$M 7.1 dividends (3.25c)
586 k shares reinvested @ $3.388 = 1.99 M
2014 March reinvestment rate = 28%

2013 March
$M 5.37 dividends
1.099 M shares reinvested @ $ 3.388 = $M 3.72
2013 reinvestment rate = 69%

Note: numbers rounded ....


So - yes, I guess we can see that the reinvestment rate dropped in 2014 compared to 2013 (no wonder given the SP issues and all the negative publicity), but still not sure where your 20% come from?

OK I bow to your superior knowledge

Obviously my blurred vision from yesterday saw the $7.1m as Cash Out on the Cash Flow statement as what went out in cash and overlooked the Cash In from issuing DRP shares.

Still have the last word as usual .... 28% is lowish uptake eh .... but probably a high % of retail investors (and directors of course} with stuff all from instos

Sprry for questioning you in first place and wasting your time ... hope not too many ERA decisions go our way

[Bjauck]

For SUM, a big jump in price (admittedly on light volume) up 3.4% so far today! No announcement on the NZX site. Just some keen small purchasers?

[couta1]

Okay folks now don't go into shock but I have sold out my Sum holding over the last week or two, I do intend buying back a portion that makes up around 5% or so of my portfolio at some point. You may ask why? well I looked at my gain in Sum and Ryman over the last couple of years and until recently there wasn't any (My Ryman holding is currently in the red so won't be getting reduced until the next run up) Some would say why not wait until next week, well as you all know selling on report day doesn't always go well( I think Sum will have an average to good result next week by the way) As I have a lot of tech/ biotech stock heavily in the red its nice to have some money to move and play around with instead of watching most of your portfolio in stagnation mode.

[ratkin]

Okay folks now don't go into shock but I have sold out my Sum holding over the last week or two, I do intend buying back a portion that makes up around 5% or so of my portfolio at some point. You may ask why? well I looked at my gain in Sum and Ryman over the last couple of years and until recently there wasn't any (My Ryman holding is currently in the red so won't be getting reduced until the next run up) Some would say why not wait until next week, well as you all know selling on report day doesn't always go well( I think Sum will have an average to good result next week by the way) As I have a lot of tech/ biotech stock heavily in the red its nice to have some money to move and play around with instead of watching most of your portfolio in stagnation mode.

Would it not be wiser to divest yourself of the speccy in the red stocks, before they sink without trace, and hang on to your quality retirement stock.
It sounds like you are danger of using your Sum money to take more gambles on speccy bios

[huxley]

That seems like a pretty big turn around given you had been one of the most optimistic posters on SUM and retirement villages generally. Any insights other than the flat share price over the past year or so?

I took a modest position in SUM recently (under $3) and see them as a long term hold (could top up at some point).

[percy]

Would it not be wiser to divest yourself of the speccy in the red stocks, before they sink without trace, and hang on to your quality retirement stock.
It sounds like you are danger of using your Sum money to take more gambles on speccy bios

Very sound advice..