Long Term View: ASB Capital Preference Shares (A)

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.

ASB Bank Pref shares A [ASBPA.NZX] have been a poor investment for shareholders since their 2002 listing on the NZX at $NZ1 per share. With 43c in net dividends and another 30% for those eligible for full tax credits (see NZX chart above) ASBPA shares have a 30.7 % 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 8 year listing of ASBPA an annual net return of 3.83 %.

This compares to a 9.28% annual return from the average of all NZX indexes.

Compare ASBPA Prefs to ASBPB Prefs


Long Term View Series

Auckland International Airport
Air New Zealand
AMP Ltd
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


ASB Bank Pref Shares A @ Share Investor

Discuss ASBPA @ 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

Video: Allan Bollard on his book "Crises"

Q+A: Interview with Reserve Bank Governor Alan Bollard…

Source: Q+A - See Interview Transcript Sunday September 05, 2010

Guyon Espiner interviews Reserve Bank Governor Alan Bollard.

I just wondered the merits or otherwise of a reserve Bank Governor who is supposed to show complete lack of bias one way or another to any Government then goes on to critique that Government while still in office over some of its policies in his new book Crisis: One Central Bank Governor and the Global Financial Collapse.

Should a Reserve Bank Governor wait until he leaves his position before writing a book on his time at the bank?

Absolutely he should.

In his book Alan Bollard talks about the the machinations behind what happened at the bank in October 2008 during the global financial crises in relation to his job and the liaison he had with the Labour Government at the time.

He is critical of Labour during the crises and the current Government for its jobs policies.

He seems to be quite candid with much of what he says in the book but at the same time says there are some details he has had to leave out.

Mr Bollard is entitled to an opinion but as Reserve Bank Governer we the people are not supposed to know the biases, political or otherwise, that he might have towards his employers lest we are able to figure out more easily his modus operandi for setting the official cash rate every few months.

Why have a Governer at all, why not let the market set the rate if he is going to spill hits guts in office.

Best to leave the book until retirement Alan and then perhaps you will be able to include all the stuff you left out.

Alan Bollard @ Share Iinvestor

Official Cash Rate: Bollard Gets it Wrong, Again
Alan Bollard Speaks, but who is listening?
Alan Bollard's indecision over OCR a worry to NZ INC
Bollard sits on his hands
Mr Conservative

Discuss this topic @ Share Investor Forum


Recommended Fishpond Reading



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




c Share Investor 2010