Depends on the timing...AIR010 is paying 6.9% as a bond but 3.85% as a share. Infratil is share dividend of 3.33% but returning 6.75% to 8.5% as a bond. Trust Power is 8.4 and 6.75% as bond and as a dividend share is 5.48%. All at current prices share prices and assuming you got bonds at application. However if you owned shares at lower prices could be comparable. I like to have a wide range of shares and bonds since if the proverbial faecal matter hits the oscillating wind generator I dont want to be cut up and buried in the back yard by my wife. I dont like to spend all my time following and tweeking my portfolio so I try and follow a system of do it right first and then leave it alone. I dont need the interest or dividends at the moment so it all gets re-invested periodically but with shares I am fussy about what price i pay...at the moment I have a sizeable cap gain sitting because of low holding price mostly. Problem with this is of course that it means opportunities are few if I use my holding price as a benchmark. Bonds are usefull for this as new ones pop up everynow and then. IFT recently had one at 6.75 so good timing.
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