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Thread: CNU - Chorus

  1. #1
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    Gravity will eventually win.

    The gravitational pull of gross dividend yields consistently and long term much higher than bank deposit interest rates and unreliable finance companies deposit rates which have no capital gain. And backed by Government financing and guarantees and assistance.

    Interesting tussle developing between the new cable, Chinese financed and part owned, between Australia and NZ, and the Southern Cross owners who have already slashed rates to render the return from this new cable rather less economic if indeed it is still positive.

  2. #2
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    Quote Originally Posted by Major von Tempsky View Post
    Gravity will eventually win.

    ..
    Interesting tussle developing between the new cable, Chinese financed and part owned, between Australia and NZ, and the Southern Cross owners who have already slashed rates to render the return from this new cable rather less economic if indeed it is still positive.
    BTW, did TEL retain part ownership of Southern Cross (rather than Chorus)?

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    I think Telecom still own Southern Cross Cable as well as the mobile network

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    Actually Vodafone dominate Auckland and Wellington is a mixed bag with average mobile data, and a range of fixed line suppliers mainly Telstra taking market share.

    Mobile termination is heavily regulated, and killed telecom of late as it let in 2 degrees and abolished all of Telecom's prepay EBITDA.

    As a result of LLU and regulation in general the only winners with Telco's these days are consumers. We demand newer and better products ($billions of capex) and don't want to pay much for it (less EBITDA) and don't want to be contracted (no switching costs).

  5. #5
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    Néanmoins, il me parait que la gravité commence a gagner!

    Nevertheless it seems that gravity is starting to win! :-) Look at the scoreboard! Look at the scoreboard!

    Hey... a number of those comments above just don't apply to CNU....it seems that a number of punters still haven't got their heads around the difference between CNU and TEL.
    (nor do they particularly apply to TEL, 2 degs has made greater inroads into Vodafone than TEL).

  6. #6
    Senior Member blockhead's Avatar
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    When are announcements due for CNU regards half year, full year etc ?

  7. #7
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    Hmmm, hoom, bit of a guessing game as CNU is so new.

    But going by TEL there will be an announcement about 3 to 4 weeks before the first dividend is due for payment in June, presumably early June.
    Last year TEL made an announcement on 6 May so that could be an interesting date. And again 19 November for the following dividend.

    And for Tel I suppose 11 Feb adjusted to the nearest Friday, Tel usually only likes making dividend announcements and payments on Fridays, for Tel's next announcement.
    That makes it 10th Feb or 17th Feb.

  8. #8
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    Going alright today - up 7 cps so far.

    You wonder why some people (morons?) were so keen to sell out at $3.21 recently....

  9. #9
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    Quote Originally Posted by SparkyTheClown View Post
    My broker called me today and said Chorus has $4 written all over it. I've added again to my holding that I bought in early Jan, given the yield it's a great stock to hold. Nice to see it back to its original listing price.
    It hasnt had a dividend yet so how do you know the yield?

  10. #10
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    Aha! You mean you haven't read the 2 kgs/4.5lbs, 1.25inches thick, 525 pages "Share in Two Journeys" demerger document from cover to cover yet?

    Shame! Shame!

    May I refer you to page 25 of said tome where it states, inter alia, "it is anticipated that for FY12 ....a dividend policy to payout 25 cents per share".

    And again, p136 (are you still with me?)

    "...the payout will be pro-rated to reflect only the post-Demerger period" i.e. 1/11/2011 to 30/06/2012 inclusive. On page 25 it mentions that results will be declared in August 2012. It also mentions (both pages) that Chorus will start with a nil balance in its imputation account thus "Dividends paid are expected to be imputed to the extent possible".

    The Non Executive Director Prue Flacks (p103) and the General Manager Human Resources Sara Broadhurst (p105) are not bad looking birds.

    Any more questions?

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