There is also the extra $50m the Reserve Bank is requiring Tower to hold in addition to its minimum solvency margin ($75m). It is a reasonable expectation (to me anyway :-)) that there will be additional capital release at some stage during the year.
Agree, which going on past could mean another share buyback of 10 - 20% of capital
Yes was wondering when this was going to happen. I was a little surprised at the muted response to date. Usually an on market share buy back and a dividend increase result in a bit more of a response from Mr Market.
The jump to 505 seems to have got the attention of a few sellers now, it was looking a bit thin on the sell side for a while there!
The sellers have shut up shop for the moment. I'm not surprised however, with a dividend and a share buy back due to kick off in Q1, why would you sell at the moment? Be interesting to see how far it goes.
Another good ~5% rise yesterday in a falling market, thou it looks to me that it may have gone a bit fast yesterday and overdone it a bit, might give back a few cents today.
There has been a fair bit of off market trades too.
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