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  1. #81
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    was thinking along the lines of...If there is no roadbuilding ..etc they have less work

  2. #82
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    Quote Originally Posted by mcdongle View Post
    was thinking along the lines of...If there is no roadbuilding ..etc they have less work
    They are preference shares, paying a dividend tied to certain interest rates. Preference over Downer ordinaries, that is. If less work for Downer results in lower dividends, it's the ords that cop the effect first. If the worst comes to the worst, the pref shares have "preference" over the ords in any distribution to shareholders.

  3. #83
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    Auckland, , New Zealand.
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    Present rate is 4.32% and price around 1.045.
    Was looking at selling as I only have a few, and the premium over the issue price takes care of a year's income.
    But where else are you getting 4%+ on what is a proxy bond?
    I see Auckland council has released a 30 year bond at 2.95% today, but there is brokerage on that. Safe I know, but hard to get interested.

  4. #84
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    My sentiments too, Grimy. The quarterly div at 4.32% doesn't amount to much on my modest holding but as you say, in today's market, not to be sneezed at!

  5. #85
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    May 2007
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    Auckland, , New Zealand.
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    Extreme demand for the Auckland Council bonds. Closed already. Sorry to be off topic.

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