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.
Hallenstein Glasson Holdings Ltd[HLG.NZ] has been a spectacular investment for those who have been shareholders since its listing in October 1947 and even better for its founder Bendix Hallenstein and his generations of family who established the company in the late 1880s . We will start at an adjusted $NZ1.00 per share from available 1989 data to make our comparison. (Figures for 1947-1989 are not easily obtainable so annual and overall returns are likely to be higher)
With $3.41c in net dividends (excluding the NZX listed period 1947-1995. No data can be easily found for dividends) and 30% more in tax credits (see chart above) gives HLG a slightly more than 813% return (see chart below for the share price percentage gain against the average of all NZX indexes - does not include dividends and tax credits in its calculation) over the nearly 21 year listing of HLG (the period between 1947 and 1995 is excluded because no share price or dividend details are available so the return will be higher than stated here for this period), an approximate annual net return of nearly 39%.
This is approximately a 275% better return when compared to the average of all NZX indexes.
Disc I own HLG shares in the Share Investor Portfolio
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Hallenstein Glasson @ Share Investor
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Discuss HLG @ Share Investor Forum
Download HLG Company Reports
Download HLG Company History
Recommended Amazon Reading
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
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