Your are correct. But there is a limit on the number they can buy, and conditions that must be met, like staying with genesis for 3 years, and certain performance hurdles that must be met.
Originally Posted by ben28
Looks similar to another large companies offering to staff that I know of , so nothing special to be concerned about.
Genesis joined Flybuys in May , the annual report states that 120 000 customers have 'linked' to it since then. How much is this being in this scheme costing? I can't find anything in the accounts or announcements?
It seems odd too, that the drop in customer numbers was not released in an announcement through the NZX? The share price fall shows it is price sensitive information!
I suspect most investors won't bother. This is a dividend yield stock and most older investors are holding it for the stable and pretty strong dividend yield, (My calculations show this at 8.9% gross based on 16.6 cps per annum at 80% imputation rate based on a SP of $2.39). I think their diversified generation portfolio will be more and more valuable in the years ahead as generation capacity gets further stretched especially with the rapid uptake of electric vehicles and therefore see this dividend yield as sustainable and I note it grows slightly each year. Regarding the half year result, I thought it was a very good one.
Good place to hide if the world goes to hell in a handbasket as people are always going to need power.
Last edited by Beagle; 15-02-2018 at 08:38 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Originally Posted by Jantar
Cool thanks guys. Good to know.
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