We should be looking at dividends payments in the next 12 months IMO.
Cash burn will be well down:
- build of their new system largely complete
- payments for chch surely next to nothing now
- loads of tax credits on the books which means no cash out the door for future NZ profits. I presume the pacific island profits still paying tax though
- youi at least a couple of mill cash increase
- a big chunk of expenses going forward will be to depreciate the new ICT system. This will be non-cash.
I would expect paying out 70% of NPAT wouldnt be an issue and still allow growth and a build of the balance sheet. If this occurred in 2020 and everything being the same as 2019 we would be looking at $17m profit, 400m odd shares * 70% = 3c per share dividend. Not sure I would be pumped about this given uncertainties in the pacific in future years.
If we said as tax and depreciation are non-cash and paid out dividends based on profit before these items = $34m, 400m shares * 70% = 6c per share. Definitely be pleased with that
Hmm
Called it earlier. I'm ****ing awesome. This is definitely worth $1. JUST GOT TO BE PATIENT!! Been a tough hold this ine
Been ridiculously patient on this one as well. Considered it my contribution to Christchurch's recovery!
Good to see 60k existing policies on the new platform but will have to wait till 2021 to be complete and for all the old stuff to be turned off and the effeciencies to (hopefully!) drop to the bottom line.
Was anyone at the ASM? The Constitutional changes didn't get enough votes to pass; some of the instos must not have supported. Any explanation at the meeting?
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