Seeka

[kiwidollabill]

I'm not a grower, just a consumer, but have noticed the gold have been much better tasting than the green this year.

I gather that the gold cope with the hot, dry weather we have been having better than the green, but does anyone know whether Seeka's increasing production of gold will act as a hedge against drought in the future, or is it just something specific to this year's conditions?

Returns per ha are way high for gold c.f. green. Thats why their strategy on the ex T&G orchards in northland has been to graft in gold to the original green rootstock and sell the orchard off.

Yes, the gold loves the hot weather, promotes sweetness. However what we get in NZ is usually the lower grades not suitable for export...

[bull....]

Massive kiwifruit crop this year spurs record revenue, despite Covid-19 worker shortage

https://www.tvnz.co.nz/one-news/new-...orker-shortage

[RTM]

Disappointing update. I don’t fully understand why given the publicity around the Kiwifruit industry.
I had hoped for something.

Seeka Limited [NZX:SEK] provides the following dividend update.

On 19 March 2020 Seeka cancelled the dividend of $0.12 per share to be paid on 17 April and advised that the dividend, and the application of the Dividend Reinvestment Plan, will be considered by Seeka at its Board meeting scheduled for 17 June.

Having reviewed the company’s forecast guidance and the current business environment the Board considers that it is prudent that no dividend be paid at this time.

Seeka confirms its previous earnings guidance before tax to be in the range between NZD$9.0m and $11.0m for the full 2020 financial year after the completion of the Company’s divestment transactions.

[peat]

I would have appreciated more of an explanation given that earlier it was intended to pay out.
however technically they are just giving you you’re own money back so just sell some shares if you need cash

[iceman]

I agree this is a disappointing update. Not only because of the no dividend announcement, but the lack of explanation on why so ! NZ has had a very good Kiwifruit season albeit with much higher than normal costs due to COVID. But SEK has also been undertaking significant divestment both in NZ & Aus to pay down debt. One would hope for a significantly strengthened balance sheet this year.
I wonder if companies are fearful of a Government or public backlash to any dividend announcements. Nothing surprises me in today{s crazy World !!

[RTM]

I agree this is a disappointing update. Not only because of the no dividend announcement, but the lack of explanation on why so ! NZ has had a very good Kiwifruit season albeit with much higher than normal costs due to COVID. But SEK has also been undertaking significant divestment both in NZ & Aus to pay down debt. One would hope for a significantly strengthened balance sheet this year.
I wonder if companies are fearful of a Government or public backlash to any dividend announcements. Nothing surprises me in today{s crazy World !!

I wonder if the markets are not quite as robust as they hope for ? Maybe they are worried about prices or their ability to sell the product if COVID rages longer. So yes, a better explanation would help.

Peat, selling a few is not really something that we want or need to do.

I will just have to go down to the pack house and see if I can get a few more seconds.

[bull....]

disappointing announcement about no div. only excuses i see is the business has performed really badly this last year against record kiwifruit volumes or they are using covid conditions as a excuse to not pay a dividend and use the funds saved from this to reduce debt.

[kiwidollabill]

I wonder if the markets are not quite as robust as they hope for ? Maybe they are worried about prices or their ability to sell the product if COVID rages longer. So yes, a better explanation would help.

Peat, selling a few is not really something that we want or need to do.

I will just have to go down to the pack house and see if I can get a few more seconds.

There is significant uncertainty with where fruit prices will be landing at the end of the year.... same across the entire hort space, exporters/distributors are being cautious with not flooding the market with fruit which isnt sold or is at rock bottom prices.

[RTM]

disappointing announcement about no div. only excuses i see is the business has performed really badly this last year against record kiwifruit volumes or they are using covid conditions as a excuse to not pay a dividend and use the funds saved from this to reduce debt.

There is significant uncertainty with where fruit prices will be landing at the end of the year.... same across the entire hort space, exporters/distributors are being cautious with not flooding the market with fruit which isnt sold or is at rock bottom prices.

Yes...and in the absence of information we can only speculate.
I was thinking this morning that it will be interesting if directors/management buy shares in the next 6 months or so....

[bull....]

Yes...and in the absence of information we can only speculate.
I was thinking this morning that it will be interesting if directors/management buy shares in the next 6 months or so....

i just ditched the last of my shares , not worth holding a highly valued no dividend stock in my opinion. might buy again at cheaper levels