MCY Mercury NZ ( MRP Mighty River Power)

[BlackCross]

Mighty River Power shares have had a strong run up to $2.80, triggering a "reduce" recommendation from share analysts at Morningstar.

http://www.stuff.co.nz/business/money/10667291/Morningstar-issues-reduce-recommendation-on-Mighty-River-shares

[robbo24]

Morningstar... Lol. Such a good contrarian indicator.

MRP maybe an addition to an MSCI index? Ho ho ho. $3+ activated????

http://home.nzcity.co.nz/news/article.aspx?id=196223

[Baaarney]

and today's good news - a 5cps special dividend, with more updates on capital management due tomorrow at the ASM

******
MRP announces special dividend for shareholders

Mighty River Power today announced a fully imputed special dividend of 5 cents per share to be paid to the Company’s more than 102,000 shareholders on 11 December 2014. Chair, Joan Withers, said the Board was pleased to declare a fully imputed special dividend worth approximately $70 million, which was confirmed as part of Mighty River Power’s ongoing capital management review at its Board meeting today.


“The positive outcomes we achieved in FY2014, along with our decisions around capital structure – including a successful $300 million Capital Bond offer – have given us some flexibility and options that have allowed us to pay this special dividend to our shareholders.”


Mrs Withers said the Company would be providing an update on capital management initiatives and Dividend Policy at the Mighty River Power Annual Shareholders’ Meeting tomorrow (6 November 2014).
ENDS


Notes:
- The fully imputed special dividend of 5.0 NZ cents per share will be paid on 11 December 2014 to all Mighty River Power shareholders who are on the Company’s share register at 5pm on the record date of 20 November 2014.
- The dividend will be fully imputed which amounts to an imputation credit of 0.019444 NZ cents per share.
- The Company will also pay a supplementary dividend of 0.008824 NZ cents per share to non-resident shareholders. The Company will receive from the IRD a tax credit equivalent to the supplementary dividend.

[robbo24]

Mighty River Power shares have had a strong run up to $2.80, triggering a "reduce" recommendation from share analysts at Morningstar.

http://www.stuff.co.nz/business/money/10667291/Morningstar-issues-reduce-recommendation-on-Mighty-River-shares

How did the almighty Morningstar not calculate the potential for a special dividend to the tune of $70m in their almighty calculations?

Oh that's right, contrarian indicator...



MSCI announcement next, goodbye $3.00.

[BFG]

Congrats to all shareholders holding through thick and thin (and buying more near $2.00!). Benjamin Graham would be proud of all of ya!

[bunter]

When you take the bonus shares, and the dividends into account, the paper loss was never that bad. Bunter 'fair value' is 3.21 FWIW, assuming 7.5% long term growth.

[dingoNZ]

Mighty River Power shares have had a strong run up to $2.80, triggering a "reduce" recommendation from share analysts at Morningstar.

http://www.stuff.co.nz/business/money/10667291/Morningstar-issues-reduce-recommendation-on-Mighty-River-shares

Morningstar research is utter rubbish

[BFG]

mighty river power shares have had a strong run up to $2.80, triggering a "reduce" recommendation from share analysts at morningstar.

http://www.stuff.co.nz/business/money/10667291/morningstar-issues-reduce-recommendation-on-mighty-river-shares

buy more now

[tim23]

Think that's why Contact has firmed of late, very likely to also pay special dividend.

[IAK]

With Meridian and Contact reducing the solar buyback rates, it now seems far more sensible to invest in the power companies and use the dividends to subsidise the power bills.