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  1. #171
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    Quote Originally Posted by Vaygor1 View Post
    Cautious? I would say stingy and measly. Anything, it seems, to keep the share price down:

    * Divvy only once a year.
    * A miserly dividend at that given their free cashflow position.
    * Not paying out significant imputation credits and possibly risking the shareholder continuity test (although I doubt it given the amount they control)
    * Suppressed NZX trading liquidity with no action to remedy
    * Breach of the NZX rules with no apparent action to remedy (which the independent directors should be jumping up and down about)
    * The most minimal communication with shareholders


    Disc:a long time holder still waiting (very) patiently.
    I'm interested to know ... what do think would be a more reasonable dividend?

  2. #172
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    Is Labours plan to open up the boundary in Auckland going to affect the value of land held by CDI and what happens if other councild do the same?.eg Hamilton and Tauranga.

  3. #173
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    Quote Originally Posted by beetills View Post
    Is Labours plan to open up the boundary in Auckland going to affect the value of land held by CDI and what happens if other councild do the same?.eg Hamilton and Tauranga.
    It is ultimately the decision of a council, if it is council land. But a govt. can certainly make representations and apply pressure/incentives to encourage a council to push out boundaries. The govt. and councils reach agreement on work projects such as roads or tunnels etc that use council land. As for CDI ... if boundaries were extended, it would still take a fair bit of time before those extra areas were at a stage where CDI's projects are currently, so I can't see it having a significant impact on land values. In fact CDI might well be interested in purchasing more land, so it could be a good thing.

  4. #174
    The past is practise. Vaygor1's Avatar
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    Quote Originally Posted by podg View Post
    I'm interested to know ... what do think would be a more reasonable dividend?
    Reasonable would have been 4.5c/share instead of 3c/share for last financial year.
    4.5 c/share represents under 35% of CDI's current annual earnings per share.
    If you want to use NPAT as a yardstick then last year that was 27c/share
    Looking at cashflow, which is the correct place to look in my view, they have it running out their ears.

    I'm not the only one complaining.

    Another irritation is the dividend payment date (19th of May last year).. four and a half months after the 31-Dec end of Financial Year. The longest for any dividend-paying company I've ever invested in. Why the lengthy delay when they only shell out once a year?

  5. #175
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    Quote Originally Posted by Vaygor1 View Post
    Reasonable would have been 4.5c/share instead of 3c/share for last financial year.
    4.5 c/share represents under 35% of CDI's current annual earnings per share.
    If you want to use NPAT as a yardstick then last year that was 27c/share
    Looking at cashflow, which is the correct place to look in my view, they have it running out their ears.

    I'm not the only one complaining.

    Another irritation is the dividend payment date (19th of May last year).. four and a half months after the 31-Dec end of Financial Year. The longest for any dividend-paying company I've ever invested in. Why the lengthy delay when they only shell out once a year?
    yeah, I have raised, on this site, the lengthy period between announcing the dividend and actually paying the dividend and nobody seemed that bothered ?? I asked the NZX and they said there is no particular timeframe for paying a declared dividend. I suspect it might have more to do with overseas shareholders.

    I agree with you on the level of payout. They always seem to be 1-2c lower than they could be. or is that should be ?? we will know if much has changed in about 12 weeks when we get the 2017 results.

  6. #176
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by greater fool View Post
    Any chance of this takeover spilling into NZ?

    https://uk.reuters.com/article/uk-mi...-idUKKBN1E22BU
    Interesting ... obviously a different country, but similar circumstances (woefully undervalued property portfolio). As a minimum it might change the sentiment a bit towards the better ...
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  7. #177
    always learning ... BlackPeter's Avatar
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    Anybody else noticing the recent steady uptrend? Today at an all-time high of 90 cents - I suppose the market is preparing for another stellar annual result.

    Attachment 9384

    Good that CDL investments flies under the radar - if investors would realize that the asset base of this company is ways more worth than the market cap, the share price might blow out - and hey, we can;t have that - can we?

    Discl: quite content with my in average roughly 20% appreciation every year (plus a wee divvie);
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  8. #178
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    Quote Originally Posted by BlackPeter View Post
    Anybody else noticing the recent steady uptrend? Today at an all-time high of 90 cents - I suppose the market is preparing for another stellar annual result.

    Attachment 9384

    Good that CDL investments flies under the radar - if investors would realize that the asset base of this company is ways more worth than the market cap, the share price might blow out - and hey, we can;t have that - can we?

    Discl: quite content with my in average roughly 20% appreciation every year (plus a wee divvie);
    I'm with you on that one BP. Bought my first lot at 28 cents in 2010, and very happy with the additional lot bought at 65 cents in 2016. This is one of those weird companies that do well, do the right things, but because of their register go under the radar, have people "wary" of investing and also have a lack of liquidity. But like you say plenty more potential there and in time that potential will be realised.

  9. #179
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    A small shareholder just wondering is it in the best interests for the major shareholders for the sp to rise?

  10. #180
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by beetills View Post
    A small shareholder just wondering is it in the best interests for the major shareholders for the sp to rise?
    Good question. Given however that MCI hold more than 50% I assume that they have CDI at cost in their books - i.e. shouldn't matter too much for them, unless they want to go for a takeover of CDI or the mother wants to take over MCK NZ.

    As well - what are they supposed to do if they don't like it? Sell down? Might work in the short run, but would probably increase the price in the longer run ...
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

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