Wednesday, July 14, 2010

Long Term View: Kirkcaldie & Stains 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.

Kirkcaldie & Stains Ltd [KRK.NZ] has been one of the worst performing stocks listed on the NZX. It may have performed better than that for the founders and its family tree since its establishment in 1863 though but investors who participated in the May 2001 IPO at NZ$5.00 per share will be disappointed. $1.015c in net dividends and 30% more in tax credits (see chart above) a 1:2 rights issue in 2002 and a 1:3 rights issue in 2003 gives KRK a minus 95% 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 10 year listing of KRK an approximate annual net return of minus 9.5%.

This is approximately a 150% worse return when compared to the average of all NZX indexes.

Long Term View Series

Auckland International Airport
Air New Zealand
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
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

Kircaldie Ltd @ Share Investor

Discuss KRK @ Share Investor Forum
Download KKR Company Reports

Recommended Amazon Reading

The Intelligent Investor: The Definitive Book on Value Investing. A       Book of Practical Counsel (Revised Edition)
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
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