Friday, March 19, 2010

Long Term View: Fisher & Paykel Healthcare Ltd



In this series of posts I am going to be looking at stocks listed on the NZX in relation to their returns to shareholders over the life of their listing -what shareholders would now see in their back pockets if they had invested in the company IPO.

The calculation of returns includes dividends and tax credits.

Fisher & Paykel Healthcare Ltd [FPH.NZ] has been good to its shareholders in terms of returns since its forerunners NZX listing in 1979 - we will only be looking at the last 8 years of available data since FPH became a fully separate company from Fisher & Paykel Appliances [FPA.NZ] and listed on November 16 2001 at $NZ2.25 (adjusted for a 4:1 FPH stock split in 2004). With $NZ 84 cents in net dividends (see chart above) paid and another 33% of that figure gained for those eligible for associated tax credits, a slightly more than 93% return (see chart below for the share price percentage gain against the average of all NZX indexes) over the 8 year available data gives an approximate annual net return of just over 11%.

This is approximately an even return compared to the average of all NZX indexes.




Disclosure
I own FPH shares in the Share Investor Portfolio



Long Term View Series

Auckland International Airport
Air New Zealand
AMP Ltd
Briscoe Group Ltd
Contact Energy Ltd
Delegats Group Ltd
EBOS Group Ltd
Fletcher Building Ltd
Fisher & Paykel Appliances
Fisher & Paykel Healthcare
Freightways Ltd
Goodman Fielder Ltd
Hellaby Holdings Ltd
Mainfreight Ltd
Metlifecare Ltd
New Zealand Refining Ltd
Port Of Tauranga Ltd
Pumpkin Patch Ltd
Restaurant Brands Ltd
Ryman Healthcare Ltd
Sanford Ltd
Sky City Entertainment Group Ltd
Sky Network Television Ltd
Telecom NZ Ltd
Telstra Corp Ltd
The Warehouse Group Ltd

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Recommended Amazon Reading

The Intelligent Investor: The Definitive Book on Value Investing. A   Book of Practical Counsel (Revised Edition)
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
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