Wednesday, September 8, 2010

Long Term View: Allied Farmers 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.

Allied Farmers Ltd [ALF.NZX] has been on a roller-coaster in terms of stock prices and results since its May 2002 listing at $1.50c per share*. With $1.21c in net dividends and 30% more in tax credits, plus a 3:2 share split in 2003 (see chart above) and a new share issue in December 2009 with a dilutionary effect of approx 5500% gives ALF a minus 10820% return (see chart below for the share price percentage gain against the average of all NZX indexes - does not include dividends, tax credits and the share split in its calculation) and over the 7 year listing of ALF an annual net return of minus 1352 %.

This is the worst performer by far in the Long Term View series.

This compares to an approx 7% return from the average of all NZX indexes.

* Adjusted price

Long Term View Series

Abano Healthcare Group Ltd

ASB Capital Preference Shares (A)
ASB Capital Preference Shares (B)
Auckland International Airport
Air New Zealand
ANZ Banking Group Ltd
Briscoe Group Ltd
Cavalier Corporation Ltd
Comvita Ltd
Contact Energy Ltd
Delegats Group Ltd
EBOS Group Ltd
Fletcher Building Ltd
Fisher & Paykel Appliances
Fisher & Paykel Healthcare
Freightways Ltd
Goodman Fielder Ltd
Hallenstein Glasson Holdings Ltd
Hellaby Holdings Ltd
Infratil Ltd
Kirkcaldie & Stains Ltd
Kiwi Income Property Trust Ltd
Mainfreight Ltd
Michael Hill International Ltd
Metlifecare Ltd
Methven Ltd
Mowbray Collectables Ltd
NZ Oil & Gas Ltd
New Zealand Refining Ltd
New Zealand Stock Exchange Ltd
Nuplex Industries Ltd
PGG Wrightson Ltd
Port Of Tauranga Ltd
Postie Plus Group Ltd
Pumpkin Patch Ltd
Restaurant Brands Ltd
Ryman Healthcare Ltd
Sanford Ltd
Sealegs Corp Ltd
Scott Technology Ltd
Skellerup Ltd
Sky City Entertainment Group Ltd
Sky Network Television Ltd
Smiths City Group Ltd
Steel & Tube Ltd
Telecom NZ Ltd
Telstra Corp Ltd
Tourism Holdings Ltd
Trustpower Ltd
Turners Auctions Ltd
Turners & Growers Ltd
The Warehouse Group Ltd
Vector Ltd
Wakefield Health Ltd
Westpac Banking Group Ltd

Allied Farmers @ Share Investor

Allied Farmers: Rights Issue Decision

Allied Farmers: Prosecutions should be on the cards
Allied Farmers Fraud passes with little fanfare
Allied Farmers: What's it Worth?
Hanover, Allied Farmers deal more of the same

c Share Investor 2010