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.
Kiwi Income Property Trust Ltd [KIP.NZ] has been a poorly performing stock since its December 1993 listing at $1.03. KIP shareholders have not done well. With 76c in net dividends* and 30% more in tax credits (see chart above) and numerous dilutions in shareholder capital** gives KIP a 90% 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 nearly 17 year listing*** of KIP an approximate annual net return of just under 5.3%.
This is approximately a 100% worse return when compared to the average of all NZX indexes.
Dividend data range: 2000 - 2010* - So actual returns will be higher.
A 2009 capital raising and various calls to the market for funds estimated at a 10% dilution for shareholders**
Available share price data***
Disc I own KIP shares in the Share Investor Portfolio
Long Term View Series
Auckland International Airport
Air New Zealand
AMP Ltd
Briscoe Group Ltd
Cavalier Corporation 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
Kirkcaldie & Stains Ltd
Mainfreight Ltd
Michael Hill International Ltd
Metlifecare Ltd
New Zealand Refining Ltd
New Zealand Stock Exchange Ltd
Nuplex Industries Ltd
Port Of Tauranga Ltd
Postie Plus Group Ltd
Pumpkin Patch Ltd
Restaurant Brands Ltd
Ryman Healthcare Ltd
Sanford Ltd
Sky City Entertainment Group Ltd
Sky Network Television Ltd
Steel & Tube Ltd
Telecom NZ Ltd
Telstra Corp Ltd
Tourism Holdings Ltd
The Warehouse Group Ltd
Kiwi Income Property @ Share Investor
Kiwi Income Property debt levels should be a worry to shareholders
Why did you buy that stock? [Kiwi Income Property Trust Ltd]
Download KIP Company Reports
Discuss KIP @ Share Investor Forum
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The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
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