OCA - Oceania Group - retirement villages

[winner69]

Instead of slashing the dividend to a miserable 1.3 cents they should have just not paid one (esp as 33% goes to the tax man) - doing what they've done is an insult in light of the touted huge increase in cash flows

Doesn't signal confidence in the future - aren't they past the point of inflection so should be cock-a-hoop about things

[winner69]

Real enough .. but they can mysteriously evaporate which could be as early as the next reporting period ..


then they become mysteriously unreal & probably still unrealised ..


Whatever happened to 'Beancounter's Reporting on Conservative side' with some of these listed Outfits ?


At least back then everyone knew where they stood without all the Mickey Mouse unrealised revaluations
being booked as actual trading surpluses above the line in some sectors ..

But aren't they included in Book Value and NTA?

[nztx]

But aren't they included in Book Value and NTA?

Indeed, but a more informative reporting basis would be to take Revaluations direct to
"Asset Revaluation Reserve" in Shareholders Funds, until they are actually realised surely ?

[Soolaimon]

Indeed, but a more informative reporting basis would be to take Revaluations direct to
"Asset Revaluation Reserve" in Shareholders Funds, until they are actually realised surely ?

At least we could understand Asset Revaluation Reserve. Makes sense to me.

[nztx]

Let's face it - the likes of HLG, BGR, KMD and others don't book their Gross Margins on unrealised inventories
on hand into Trading Surpluses before the goods hit the Cash Register & flying out the door happens ..

HGH don't book the Interest Income on their Loan Assets for next X Years ahead into Trading Surpluses before
the clock ticks over as the period's interest income & fees is actually 'earned' either ..

[Maverick]

Instead of slashing the dividend to a miserable 1.3 cents they should have just not paid one (esp as 33% goes to the tax man) - doing what they've done is an insult in light of the touted huge increase in cash flows

Doesn't signal confidence in the future - aren't they past the point of inflection so should be cock-a-hoop about things

Don't you think Winner that the reduced dividend (WELL below there mandate of paying out 50% of underlying) is a deliberate "slight of hand" to avoid attracting media attention to pay back the wage subsidy? I see no other reason for such a stray from there own policy.....marvelous play OCA, love it!

[winner69]

Nztx ..I’ve had a property for nearly 40 years. It cost me about $50k and worth maybe zillions now.

It’s in my books at cost ......is my company only worth $50k or is it worth zillions.

[Ggcc]

Don't you think Winner that the reduced dividend (WELL below there mandate of paying out 50% of underlying) is a deliberate "slight of hand" to avoid attracting media attention to pay back the wage subsidy? I see no other reason for such a stray from there own policy.....marvelous play OCA, love it!

Plus doesn't Macquarie end up buying all dividends that are not under the dividend reinvestment scheme for cash like last time? Or was that a one time deal

[winner69]

Don't you think Winner that the reduced dividend (WELL below there mandate of paying out 50% of underlying) is a deliberate "slight of hand" to avoid attracting media attention to pay back the wage subsidy? I see no other reason for such a stray from there own policy.....marvelous play OCA, love it!

Don’t think the market per se is that gullible and can’t see Earl coming out and publicly saying ‘yes we took the wage subsidy but heck we slashed shareholder dividends’

Anyway leaves Oceania as the one not repaying the subsidy ...even though they only claimed it for their sales people and as Earl says ‘it’s not that much’

Principles of it though.

[nztx]

Nztx ..I’ve had a property for nearly 40 years. It cost me about $50k and worth maybe zillions now.

It’s in my books at cost ......is my company only worth $50k or is it worth zillions.

but the value is in the underlying unrealised value of shares in your company, is it not ?

If revalued in the company books - I'm sure you wouldn't want revaluations taken through P&L direct
but would prefer Revaluation gains (if made) direct to Revaluation Reserve

When / If finally you decide the company is to sell up - I'm picking these are non taxable gains as well ?

After all - a long term property holding is not necessarily a trading activity unless purchased
with intention of resale at a profit as a business activity..

Looking at OCA now - it's questionable as to whether value in 'units' they are developing, holding
buying & selling is not stock in trade incidental to .. well the rest home business and therefore
should be being carried at cost plus developmental costs, until realised unless the market
suggests lower realisation values are a likely scenario requiring provisioning ..