This result was pretty much as forecast back in July 2016 in this forum based on their matrix results. The forecast was approx $50m NPAT from which they used $8m on capex and a 50% distribution for dividend allowed 6cps.
Hmmm...pretty disappointing isn't it?? Was thinking of dipping my toes on this one over past few days but for some reason the trading pattern hasn't given me enough confidence over that period. I think have dodged a bullet on this one, relief.....
This result was pretty much as forecast back in July 2016 in this forum based on their matrix results. The forecast was approx $50m NPAT from which they used $8m on capex and a 50% distribution for dividend allowed 6cps.
payout ratio was way at the low end just goes to show last yrs div was probably elbowed out of them.
Refining NZ advises that BP New Zealand Holdings Limited and Europa Oil NZ Limited (together “BP”) contacted it after the market closed yesterday advising that BP was conducting a process overnight to reduce its shareholding in Refining NZ by selling up to 11.1% of the 21.19% it initially held.
The trading halt will remain in place until BP files a substantial product holder notice confirming that it has sold shares. If the full parcel of 11.1% of the shares is sold, BP would be left with 10.09% of the shares in Refining NZ.
BP’s reduction in shareholding does not affect the existing contractual arrangements between Refining NZ and BP, including the processing agreement which remains on foot.
Refining NZ advises that BP New Zealand Holdings Limited and Europa Oil NZ Limited (together “BP”) contacted it after the market closed yesterday advising that BP was conducting a process overnight to reduce its shareholding in Refining NZ by selling up to 11.1% of the 21.19% it initially held.
The trading halt will remain in place until BP files a substantial product holder notice confirming that it has sold shares. If the full parcel of 11.1% of the shares is sold, BP would be left with 10.09% of the shares in Refining NZ.
BP’s reduction in shareholding does not affect the existing contractual arrangements between Refining NZ and BP, including the processing agreement which remains on foot.
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