HGH - Heartland Group Holdings

[Snoopy]

Strike price for the shares in lieu of dividend has been announced and for those canny investors participating they enjoy a 2.5% discount to the VWAP ex divvy trading price over recent days ($1.625). Participation is actually a good way to boost one's effective yield. For example I am forecasting 7.95% gross yield as recently posted in the year ahead but for those taking the shares in lieu their gross yield becomes 7.95 / 0.975 = 8.154%.

Just on 5.3m shares are being issued for this dividend and I am modelling 10.6m shares issued for the year or 1.9% increase in the number on issue. Provided they don't do a capital raise the vast majority of this year's profit growth should translate to EPS growth but I agree with Percy that asking whether this years forecast profit growth will be reflected in an ostensibly similar EPS growth is an excellent question for the annual meeting. After only 2% EPS growth last year I will be seeking some comfort the company hasn't lost focus on the importance of EPS growth.

Strike price for the Dividend Reinvestment Plan (DRP) in lieu of the cash dividend payable on 29 March 2019 is announced today as $1.4709 per share. I am happy with that. Likewise we get the compounding effect of more shares to take part in the next dividend, similar to the effect of the September 2018 dividend as reported on by Beagle,

I wonder how 'canny' those investors who received shares at $1.625 in the September dividend payment are feeling now though?

"Och Jock, I canny understand where all the promise of last years earnings went, that saw me accept shares at $1.625!"

I notice the HGH share price retreated to the HGH DRP price today. Not much arbitrage their for those who tried to exploit it.

SNOOPY

[Beagle]

"Och Jock, I canny understand where all the promise of last years earnings went, that saw me accept shares at $1.625!" LOL too funny mate. Swings and roundabouts with these DRP's but I think you know that already

[Snow Leopard]

I generally go for the DRiP unless I think the SP is seriously overvalued and then never bother to regret it.

[Turtle2]

Under note 13 in AR2019, 'unsubordinated note borrowings' are up to $151.853m at balance date, up from zero the previous year. Do you know what makes up the $1.853m difference? Oversubscriptions?

SNOOPY

Accrued interest would work out at that

[minimoke]

I am always left wondering when a person leaves with effect immediately. I see a director (Graham Kennedy) is off today

[BlackPeter]

Hmm - Kate Morrison (ex Deutsche Bank) joining the Heartland Board.

https://www.nzx.com/announcements/332666

Well, I don't know Kate, but somehow this sounds like somebody from Fonterror running Synlait? Oh - oops, just happened, didn't it?

Let's hope the success of her previous employer isn't following her ... I hear Deutsche Bank is great in making shoddy deals with lying Don as well as paying bonus payments to their staff at the same time they are losing money for their shareholders.

But than she claims to be experienced in "succession planning, strategy and governance". Maybe it was not her fault.

All good than.

[percy]

I am always left wondering when a person leaves with effect immediately. I see a director (Graham Kennedy) is off today

Often health reasons.

[winner69]

Hmm - Kate Morrison (ex Deutsche Bank) joining the Heartland Board.

https://www.nzx.com/announcements/332666

Well, I don't know Kate, but somehow this sounds like somebody from Fonterror running Synlait? Oh - oops, just happened, didn't it?

Let's hope the success of her previous employer isn't following her ... I hear Deutsche Bank is great in making shoddy deals with lying Don as well as paying bonus payments to their staff at the same time they are losing money for their shareholders.

But than she claims to be experienced in "succession planning, strategy and governance". Maybe it was not her fault.

All good than.

It’s only for Heartland Bank

Evens the gender balance up a bit ..that should be good for Heartland

[artemis]

When I saw new director, sadly disappointed when it was not Percy.

[percy]

When I saw new director, sadly disappointed when it was not Percy.

They do have some brains....lol.