Long Term View: Comvita 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.

Comvita Ltd [CVT.NZX] has been a very poor investment for shareholders since its November 2003 listing* at $2.50c per share . With 26.3c in net dividends, 30% more in tax credits (see NZX chart above) and many rights issues and capital raisings; 0.4:1 subsequent public offering in 2004, 1:4 rights issue in 2006 and a 1:5 rights issue in 2007, gives CVT a minus 108% 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 7 year listing of CVT an annual net return of minus 15.42%**.

This compares to an annual return from the average of all NZX indexes of 4.28%

* CVT was on the unlisted market prior to its listing on the NZAX in 2003 and subsequent listing on the NZX main board in 2006.




Long Term View Series

Auckland International Airport
Air New Zealand
AMP Ltd
ANZ Banking Group 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
Infratil Ltd
Kirkcaldie & Stains Ltd
Kiwi Income Property Trust Ltd
Mainfreight Ltd
Michael Hill International Ltd
Metlifecare Ltd
Methven 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
Skellerup Ltd
Sky City Entertainment Group Ltd
Sky Network Television Ltd
Steel & Tube Ltd
Telecom NZ Ltd
Telstra Corp Ltd
Tourism Holdings Ltd
Turners Auctions Ltd
Turners & Growers Ltd
The Warehouse Group Ltd
Wakefield Health Ltd


Comvita @ Share Investor

List of Bruce Sheppard's top NZX listed company debt worries

Discuss CVT @ Share Investor Forum
Download CVT Company Reports


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c Share Investor 2010

Long Term View: PGG Wrightson 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.

PGG Wrightson Ltd [PGW.NZ] has been a poorly performing stock since its January 1982 listing . We will make our comparison at an adjusted share price of 50c*. $1.13c in net dividends** a 5:4 share spilt in 2010, a 9:8 split in 1994 and a 9:8 split in 1992 and 30% more in tax credits (see chart above)gives PGW a 240% 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 28 year listing*** of PGW an approximate annual net return of 15%.

This is approximately a 3% less return when compared to the average of all NZX indexes.


Earliest available data for share price from 1991*
Dividend records go back to 1994**
Our comparison is for 16 years. All relevant available data to show the return for PGW dates from and includes 1994***


Long Term View SeriesAuckland 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
Kiwi Income Property Trust Ltd
Mainfreight Ltd
Michael Hill International Ltd
Metlifecare Ltd
Methven 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


PPG Wrightson @ Share InvestorStocks on my Watchlist: NZ Farming Systems Uruguay Ltd

Discuss PGW @ Share Investor Forum




c Share Investor 2010

Long Term View: Methven 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.

Methven Ltd [MVN.NZ] has been a poorly performing stock since its November 2004 IPO and listing (see Methven Prospectus for details) at $1.43. MVN shareholders have not done well. With 60c in net dividends and 30% more in tax credits (see chart above) gives MVN a 80% 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 6 year listing of MVN an approximate annual net return of 13.3%.

This is approximately a 80% better return when compared to the average of all NZX indexes.





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
Kiwi Income Property Trust 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


Methven Ltd @ Share Investor

Stock of the Week: Methven Ltd
Discuss MVN @ Share Investor Forum
Download MVN Company Reports

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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c Share Investor 2010

Long Term View: Cavalier Corporation 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.

Cavalier Corporation Ltd [CAV.NZ] has been a good performing stock listed on the NZX. Since its July 1984 listing CAV has done well. We start at an adjusted $1.25* to make our comparison. $3.085c in net dividends** and 30% more in tax credits (see chart above) a 2:1 share split in 2002 gives CAV a 620% 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 20 year listing*** of CAV an approximate annual net return of over 31%.

This is approximately a 100% better return when compared to the average of all NZX indexes.

Earliest available data *
Dividend data range: 1994 - 2010**
Available share price data***

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
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


Cavalier Corp @ Share Investor

Cavalier Corp: Profit Upgrade off low 2009 Result

Download CAV Company Reports
Discuss CAV @ Share Investor Forum


Recommended Amazon Reading


The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
Buy new: $14.95 / Used from: $7.50
Usually ships in 24 hours

Buy The Intelligent Investor & more @ Fishpond.co.nz




c Share Investor 2010