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.
Fisher & Paykel Appliances Ltd [FPA.NZ] had been very good to its shareholders in terms of returns since its forerunners NZX listing in 1979 - we will only be looking at the last 8 years of available data since FPA became a fully separate company from Fisher & Paykel Healthcare [FPH.NZ] and listed on November 16 2001 at $NZ2.25 (adjusted for a 4:1 FPA stock split in 2004). With $NZ 1.44 cents in net dividends (see chart above) paid and another 33% of that figure gained for those eligible for associated tax credits, a slightly more than 11% return (see chart below for the share price percentage gain against the average of all NZX indexes) over the 8 year available data gives an approximate annual net return of just over 1.37 %.
This is more than 10 times worse than the return from the average of all NZX indexes.
Long Term View Series
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Fisher & Paykel Appliances @ Share Investor
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Fisher & Paykel Appliances looking fair value
Fisher & Paykel: A Tale of Two Companies
Fisher & Paykel Appliances: In a spin over nothing
Discuss FPA @ Share Investor Forum
Download FPA 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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