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  1. #101
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    Silver Fern Farms media release on $34.5m dividend. Click here to view announcement.

  2. #102
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    Must be about time for a result? Think its going to be (relatively) good????

  3. #103
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    Quote Originally Posted by Sideshow Bob View Post
    Must be about time for a result? Think its going to be (relatively) good????
    It was about the 12th of April last year. Fingers crossed?

  4. #104
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    Have seen a lot of sponsered social media advertising from Silver Fern of late particularly on instagram.

  5. #105
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    Quote Originally Posted by Mr Slothbear View Post
    Have seen a lot of sponsered social media advertising from Silver Fern of late particularly on instagram.
    Part of all their branding work - wouldn't say it would bear any resemblance to their local retail branded sales.....

  6. #106
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    Yep! No word on divvies for the co-op

    https://www.stuff.co.nz/business/far...chinese-demand

    Pretty easy to see how much it costs to run the coop. Not cheap!

  7. #107
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    Quote Originally Posted by Sideshow Bob View Post
    Yep! No word on divvies for the co-op

    https://www.stuff.co.nz/business/far...chinese-demand

    Pretty easy to see how much it costs to run the coop. Not cheap!
    The coop or Silver Fern Farms Ltd ?
    I see it as an excellent result for both shareholders of Silver Fern Farms Ltd

  8. #108
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    Last edited by percy; 16-04-2020 at 08:24 AM.

  9. #109
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    Quote Originally Posted by kiora View Post
    The coop or Silver Fern Farms Ltd ?
    I see it as an excellent result for both shareholders of Silver Fern Farms Ltd
    Co-op listed on USX. There only asset/business is a 50% shareholding in SFF Ltd. Other 50% is Shanghai Maling - part of Bright Food (Synlait)

  10. #110
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    Did I read no dividend from SFF to the two shareholders - Co-op & Shanghai ?

    The result is quite telling on what may have been possible even with Farmers stumping proportionately more cash to retain
    more control of SFF IMO, rather than quazi 50/50 if I remember correctly & China having casting vote..
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  11. #111
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    The two shareholders Silver Fern Farms Co-Op and Shanghai Maling, asked Silver Fern Farms Ltd not to pay the dividend.
    Perhaps we will receive further advice on the divie and a trading update at the agm on the 30th April.
    Last edited by percy; 18-04-2020 at 08:22 PM.

  12. #112
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    Quote Originally Posted by percy View Post
    The two shareholders Silver Fern Farms Co-Op and Shanghai Maling, asked Silver Fern Farms Ltd not to pay the dividend.
    Perhaps we will receive further advice on the divie and a trading update at the agm on the 30th April.
    Smart (or large) money not wanting to impact their balance sheets by paying out dividends to shareholders in uncertain times, just wait until this escalates across the wider NZX bourse. End up with a truck load of investments returning nothing in cash, it will be a watershed moment and reflection on where returns are literally coming from, instead of waiting/holding companies that have no capacity to return earnings to investors.

  13. #113
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    Quote Originally Posted by Baa_Baa View Post
    Smart (or large) money not wanting to impact their balance sheets by paying out dividends to shareholders in uncertain times, just wait until this escalates across the wider NZX bourse. End up with a truck load of investments returning nothing in cash, it will be a watershed moment and reflection on where returns are literally coming from, instead of waiting/holding companies that have no capacity to return earnings to investors.
    I think we've already have seen this starting with a bundle of the March/April Div paying NZX companies.. undoubtedly more to follow soon or slash payouts between now & the Sept/Oct round of Div payouts too..

    Likely to bring sobering reality back to those on where they sunk their NZX investment cash in places

    With SF Co-op, farmer shareholders on the receiving end of this may or may not seen too much dividend return in the preceding 12 months either
    Last edited by nztx; 18-04-2020 at 09:38 PM. Reason: add more
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  14. #114
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    Update from SFF today says they are considering a dividend

  15. #115
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    Silver Fern Farms Co-operative and Shanghai Maling
    have made the decision and requested Silver Fern
    Farms Limited defer the dividend payment until
    the outlook for the global operating environment
    becomes clearer. As we come through the current
    crisis and enter a ‘new normal’ Silver Fern Farms
    Limited’s Board will gain more clarity around timing
    payment of the dividend.

    Above from their annual report.17th April
    https://usx.co.nz/uploads/paperclip/...pdf?1587091395
    Last edited by percy; 19-04-2020 at 09:00 AM.

  16. #116
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    Certainly 2020 started out a much tougher this year - China effectively closed down for shipments through February, which is the peak of the production season. Lack of consumption through being closed through CNY and prices coming off the peak at the end of last year (but still at historically high levels). Now with distancing rules, plants are still operating under essential, but only at 30-50% because people can't stand in their normal place - cost of production would be relatively horrendous (and seeing schedules decrease despite better currency).

    Europe and the US in lockdown, and their foodservice sectors are dead for the time being. Scramble for more into retail - but some cuts are unsuitable for retail.

    I would fully expected after the start of the year that with their result they would have been as conservative as able.

    2020 would be a record profit and plenty of tail winds - but can understand not paying a divvy until the Covid dust has settled. Alliance (their main competitor and next biggest company) only made about $9m net (YE 30/9). They'd be shuddering at a cashed up SFF, and ANZCO are coming off a couple of poor seasons/results.

    It is clear though that SFF is a beef story and a China story. Alliance don't have a big beef share, so would be interesting to see what ANZCO (Japanese owned) and AFFCO (Talley-ban owned) make - as they are the next biggest beef processors.

    Still, with the Co-Op, circa $100m shares on issue, makes $34m net = 0.34c per share. PE of about 1.6 at todays price. Historic performance counts against them, but could be worth a punt and not many (listed) vehicles in the sector. Just not sure on the policies and difference in treatment between being a supplying shareholder, and an ordinary shareholder....
    Last edited by Sideshow Bob; 19-04-2020 at 12:14 PM. Reason: Corrected some of the numbers

  17. #117
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  18. #118
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    Quote Originally Posted by kiora View Post
    Pity most plants have been at 30-50% capacity through Level 4. Should return to more normal production levels this week.

    Still, would be giving the opportunity to ship hard and move stocks - but realistically 4-5 weeks transit.

    Great for manufacturing beef. But the lack of hospitality/restaurant trade problem for the higher-value cuts.

    Last edited by Sideshow Bob; 27-04-2020 at 06:28 PM.

  19. #119
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    SFF don't process pork but.....what a shambles
    ""There are 700,000 pigs across the nation that cannot be processed each week and must be humanely euthanized," said the April 27 letter."
    "Even as livestock and crop prices plummet, prices for meat and eggs at grocery stores are up. The average retail price of eggs was up nearly 40% for the week ended April 18, compared to a year earlier, according to Nielsen data. Average retail fresh chicken prices were up 5.4%, while beef was up 5.8% and pork up 6.6%."
    https://finance.yahoo.com/news/pigle...214016462.html
    The comments are enlightening too,sad
    Some realism
    "This is a classic example of the media taking advantage of the ignorance of others to instill fear and panic. Hitler and Stalin did this too. But I'll teach you so you will know what happens and why it happens."
    "Thats all it means, it DOESN"T mean we are going to run out of food. There are thousands of food processing plants in this nation and in order for us to have a food shortage over half of them would have to go down at once. The thought of that happening is ridiculous.

    The real motivation here is the media wants to instill as much fear and insecurity because its a election year and they hate the President."

    But the supply chains are chaotic & the prices are going up

    And this one !!!Sound familiar?
    "The President should step in and order the slaughterhouses to reopen with government assistance as essential industries. The owners appear to be taking the easy way out, figuring on bail-out money either way, and need to be reoriented."
    Last edited by kiora; 28-04-2020 at 10:31 PM.

  20. #120
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    Quote Originally Posted by kiora View Post
    SFF don't process pork but.....what a shambles
    ""There are 700,000 pigs across the nation that cannot be processed each week and must be humanely euthanized," said the April 27 letter."
    "Even as livestock and crop prices plummet, prices for meat and eggs at grocery stores are up. The average retail price of eggs was up nearly 40% for the week ended April 18, compared to a year earlier, according to Nielsen data. Average retail fresh chicken prices were up 5.4%, while beef was up 5.8% and pork up 6.6%."
    https://finance.yahoo.com/news/pigle...214016462.html
    The comments are enlightening too,sad
    Some realism
    "This is a classic example of the media taking advantage of the ignorance of others to instill fear and panic. Hitler and Stalin did this too. But I'll teach you so you will know what happens and why it happens."
    "Thats all it means, it DOESN"T mean we are going to run out of food. There are thousands of food processing plants in this nation and in order for us to have a food shortage over half of them would have to go down at once. The thought of that happening is ridiculous.

    The real motivation here is the media wants to instill as much fear and insecurity because its a election year and they hate the President."

    But the supply chains are chaotic & the prices are going up

    And this one !!!Sound familiar?
    "The President should step in and order the slaughterhouses to reopen with government assistance as essential industries. The owners appear to be taking the easy way out, figuring on bail-out money either way, and need to be reoriented."
    Large proportion of US meat goes into food service (moreso than NZL), poultry/pigs have faster growth cycle so operates on more of a 'just in time' supply chain. Prices are up to wack as difficult to understand 'real' supply/demand curve. Will have impact on SFF with lower returns on processing beef sales to the US, unsure the impact of some of the premium lines they are looking to launch there.

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