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21-11-2019, 09:44 AM
#1001
Agree with that Independent Observer.
$12m or 44% of the profit (before tax) coming from the pacific islands. Last year this was only $1.4m on a similiar premium base, presumably due to a cyclone or whatever.
This has been a boom year for Tower and we wouldnt expect that sort of profit from the pacific every year.
Bit disturbed by that.
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21-11-2019, 09:57 AM
#1002
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
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21-11-2019, 09:59 AM
#1003
Not buying more of these just yet.
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11-12-2019, 06:06 PM
#1004
Member
https://www.nzx.com/announcements/345686 [Tower CEO Richard Harding to depart late 2020]
Any thoughts on the upcoming changing of the guard? No sign of movement at the Board table though...
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13-12-2019, 03:08 PM
#1005
Junior Member
sold out a couple of motnhs back at a lose, was in the market for house insurance.
AMI, current insurer, 3 weeks, no quote, then said they changed their ruls this week regarding houses with EQC claim... hopeless
Vero (via the bank) quick to quote, price OK.
Tower online quote system was excellent as was the quote for house, contents and car very impressed
Things could be looking up for them.....
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09-01-2020, 11:20 AM
#1006
Anyone else see the improving balance sheet and possible benefits of dividend reintroduction / takeover ..
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09-01-2020, 12:54 PM
#1007
I am in patiently waiting for dividend reintroduce
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05-02-2020, 09:14 PM
#1008
wonder if flight cancellations due to coronovirus would be claim losses for TWR?
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05-02-2020, 09:30 PM
#1009
Member
Originally Posted by Cadalac123
wonder if flight cancellations due to coronovirus would be claim losses for TWR?
Or flood damage in South Island ...
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05-02-2020, 09:40 PM
#1010
Not sure how many Southland policies twr have nor flight cancelations as a result of a pandemic - perhaps we will hear more next week ....
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