CDL & CDI ... Another Great Result

[traineeinvestor]

i wonder why they chose to have the sale recorded in next year's results

They don't need the cash and I'm guessing the deferred completion date will defer the tax for a year?

Or it could have been driven by the purchaser?

[Scrunch]

They don't need the cash and I'm guessing the deferred completion date will defer the tax for a year?

Or it could have been driven by the purchaser?

Probably the purchaser looking to get consents through the council so that they can commence the build the new owners have planned as they get title.

[BlackPeter]

Another All Time High tonight for CDI: $1.125 per share

... and this share comes with a reliable (and fully imputed) dividend of currently 3.5 cents, a forward PE of 8.6 (at current prices) and a company operating in a industry with lots of tailwind.

CDL trend.JPG

Discl: very happy holder ...

[percy]

CDI is one of only a handful of NZX listed companies that,according figures in the latest The New Zealand Company Register, in the past 5 years has seen both eps and net assets growth year on end.
Perhaps I should not have sold my holding.?

[BlackPeter]

CDI is one of only a handful of NZX listed companies that,according figures in the latest The New Zealand Company Register, in the past 5 years has seen both eps and net assets growth year on end.
Perhaps I should not have sold my holding.?

I am sure you can buy them back .. though sadly not at the price you sold them for ;

As long as there is a housing shortage in NZ I would expect them to do just fine.

[Southern Lad]

I see that CDI issued $7.8m worth of DRP shares (7,077,888 shares at $1.102013 each) out of a total possible dividend of $9.8m, so they have only paid out $2.0m in cash last Friday. Based on earlier signalling, MCK reinvested their dividend "to allow CDLI to optimize its cash resources to progress its development plans". Excluding MCK, over 40% of shareholdings must (once RWT is taken into account) have reinvested their dividend. This is as high a participation rate as it gets for a widely held company and demonstrates either a continuing high conviction by existing shareholders or that they forgot to cancel their prior DRP election despite the significantly higher share price this year.

Will be interesting to see what future plans and general outlook is presented by directors at the AGM on Tuesday week (25 May), although if the past is anything to go by they will be both conservative and play their cards close to their chests.

[percy]

I am sure you can buy them back .. though sadly not at the price you sold them for ;

As long as there is a housing shortage in NZ I would expect them to do just fine.

Yes I still like CDI,however the Silver Fern Farms I used the funds to add to at 80 cents, are doing really well [$1.02],and i received their 5.5 cents fully imputed divie.
CDI and MCK seem to be good value,
Have ended up with my two largest holding PAZ and SFF, both being on the Unlisted market.PAZ brought for growth,while SFF brought for income and growth.

[Sideshow Bob]

I see that CDI issued $7.8m worth of DRP shares (7,077,888 shares at $1.102013 each) out of a total possible dividend of $9.8m, so they have only paid out $2.0m in cash last Friday. Based on earlier signalling, MCK reinvested their dividend "to allow CDLI to optimize its cash resources to progress its development plans". Excluding MCK, over 40% of shareholdings must (once RWT is taken into account) have reinvested their dividend. This is as high a participation rate as it gets for a widely held company and demonstrates either a continuing high conviction by existing shareholders or that they forgot to cancel their prior DRP election despite the significantly higher share price this year.

Interesting! Not sure how many holders are through Sharsies etc, but they can't elect the DRP - due to being held by their custodial holding. Can transfer them out if they are keen on the DRP however.

[LaserEyeKiwi]

Yes I still like CDI,however the Silver Fern Farms I used the funds to add to at 80 cents, are doing really well [$1.02],and i received their 5.5 cents fully imputed divie.
CDI and MCK seem to be good value,
Have ended up with my two largest holding PAZ and SFF, both being on the Unlisted market.PAZ brought for growth,while SFF brought for income and growth.

I think MCK being undervalued is almost an understatement. MCK now over 66% ownership of CDL, taking the value of their stake to ~$209 million.

MCKs entire market cap (MCK + MCKPA) = $392 million, which means their entire Hotel portfolio & Sydney apartment holdings (Zenith) + Cash is only worth $183 million according to the market.

MCK current asset backing per share is $4.70c (vs $2.49 share price)

[percy]

Here is some thing you may find of interest.
MCK's share price [$2.49] is 52.98% of their NTA.[$4.70]
SFF's share price [$1.02] is 31.20% of their total share holders equity [$3.20].
"Not a lot of people know that."