Ebos Limited EBO

[winner69]

Am I right in saying that as more shares move from NZ to the Australian register ebos will eventually be able to give more imputation credits on Nz shares?

Doesn’t really matter what register shares are on.

NZ imputation credits are based on NZ profits (ie NZ taxable income). Can’t attach NZ imputation credits to profits earned in Australia.



Will a

[James108]

Doesn’t really matter what register shares are on.

NZ imputation credits are based on NZ profits (ie NZ taxable income). Can’t attach NZ imputation credits to profits earned in Australia.



Will a

I understand that, I guess my thinking goes that maybe (all figures are for illustrative purposes) 20% of profits are in NZ but 80% of shareholders are in NZ and want imputation credits (remainder in Aus and want franked dividends).

If the % of shareholders in NZ wanting imputation credits was more aligned with the % of profits in NZ, say 20% of profits in NZ and 20% of shareholders in NZ, would this mean the dividend to NZ shareholders could be fully imputed?

[Snow Leopard]

I understand that, I guess my thinking goes that maybe (all figures are for illustrative purposes) 20% of profits are in NZ but 80% of shareholders are in NZ and want imputation credits (remainder in Aus and want franked dividends).

If the % of shareholders in NZ wanting imputation credits was more aligned with the % of profits in NZ, say 20% of profits in NZ and 20% of shareholders in NZ, would this mean the dividend to NZ shareholders could be fully imputed?

In a word... No.

[Scrunch]

In a word... No.

Imputation credits are attached to all shares. Thats why there are only very limited imputation credits on ANZ and Westpac dividends despite big profits from their nz operations and presumably only a small percentage of their shareholders being tax resident in NZ.

[James108]

Ah... thanks for the explanation. Anyway, good result for ebos I continue To hold happily and receive slightly imputed dividends.

[winner69]

This is all I do to track EBO ...not much point doing much more

Bit disappointing share price is still where it was 2 years ago ...but snowie says its going to a 100 buck share one day

[value_investor]

Great result all around and nice to see a company implementing decent constraints on cost side as well. Despite the new contract they were still able to keep numbers in check. I'm also happy to see the net debt position move in the right direction where many companies aren't.

The only issue I have with this stock is I don't own more. Bought a decent position years ago in the low teens but never topped up again on the way up.

Disc: Hold a decent position.

[peat]

Whats the PE/G tho?

I'm seeing it a bit high when I think about it.

EPS 2015 70.8 NZ cents converted to OZ at 1.1 = 64.3
EPS 2020 100.4 (Aus cents)

From online calculator
Over the course of 5 years/months your investment grew from 64.3 to 100.6. Its compound annual growth rate (CAGR) is 9.36 %
CAGR over the last five years = 9.36%

(P/E)/G
(22.1/1.006 )/9.36 = 2.35

If we use underlying earnings from 2020 the figure improves to 2.17

I mean its not bad but its not exceptional given PE should equal growth and we're seeing half that.

[winner69]

Whats the PE/G tho?

I'm seeing it a bit high when I think about it.

EPS 2015 70.8 NZ cents converted to OZ at 1.1 = 64.3
EPS 2020 100.4 (Aus cents)

From online calculator
Over the course of 5 years/months your investment grew from 64.3 to 100.6. Its compound annual growth rate (CAGR) is 9.36 %
CAGR over the last five years = 9.36%

(P/E)/G
(22.1/1.006 )/9.36 = 2.35

If we use underlying earnings from 2020 the figure improves to 2.17

I mean its not bad but its not exceptional given PE should equal growth and we're seeing half that.

...and that's why long time believers in Ebos like percy sold back when the blue line (share price) went way above the red line (eps) on the chart above (or below if new posts at top of page) - he shared the same sentiments when he did sell (think my memory is OK)

Probably percy hasn't got back in (yet) ..nor have I

Share price gone nowhere for 2 years

[percy]

...and that's why long time believers in Ebos like percy sold back when the blue line (share price) went way above the red line (eps) on the chart above (or below if new posts at top of page) - he shared the same sentiments when he did sell (think my memory is OK)

Probably percy hasn't got back in (yet) ..nor have I

Share price gone nowhere for 2 years

Yes you are correct on all counts.