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Thread: Meridian Shares

  1. #11
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    As a shareholder of meridian I am happy. No more so than any other investment I have taken the risk with and it has worked. Too bad not all of my investments do as well.
    It just shows the Government is not a good holder of such massive investments.
    If they did the same with Housing NZ the service would be better, the cost to the customers (tenants) would be less, and the new shareholders would undoubtedly be very happy. Everyone is a winner as apposed to everyone at present being a loser.

  2. #12

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    Quote Originally Posted by Glenn View Post
    It just shows the Government is not a good holder of such massive investments.
    I disagree.
    If they hadn't sold, 100% of this capital return and special dividend would be going into State coffers.
    Now, a lot of it is heading straight offshore to foreigners.

    BTW, merdian has climbed to be about 6.5% of my portfolio now with this price rise, so I am not saying this out of sour grapes.
    Last edited by speights boy; 18-02-2015 at 01:18 PM.

  3. #13
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    I agree with SB - Meridian hasn't changed what they do now that they are partially privately owned.
    With the Govts cost of capital being quite low the dividend more than covered that plus a good margin.
    They would have been better off borrowing and keeping Meridian!
    The sell off was ideologically driven

    I also own the shares and have been happy with the performance but ...

  4. #14
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    Quote Originally Posted by Wayne View Post
    I agree with SB - Meridian hasn't changed what they do now that they are partially privately owned.

    ...
    Got to disagree with you both. I used to work for the Government and was involved in spending squillions of their money. Despite spending all that money the service we delivered was terrible. Not that I was happy when they put me off.
    Just looking at the cost of power delivered is not a good way to judge a company.
    As for foreigners owning the shares. Would it be better if the foreigners lived in Auckland.

  5. #15
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    Quote Originally Posted by Glenn View Post
    Got to disagree with you both. I used to work for the Government and was involved in spending squillions of their money. Despite spending all that money the service we delivered was terrible. Not that I was happy when they put me off.
    Just looking at the cost of power delivered is not a good way to judge a company.
    As for foreigners owning the shares. Would it be better if the foreigners lived in Auckland.
    When the Post Office became Telecom NZ (the final version) and privately owned they changed what they did and made more money (not to mention being a monopoly).
    Meridian hasn't changed what they do.
    The Govt always got lots of money in - more than enough to cover the cost of borrowing.

    Shares owned overseas means the dividends go straight out - a drain on the balance of payments.
    This is especially so since there was enough interest by NZ'ers to sell them all to NZ'ers.
    Foreigners living in NZ at least pay to live here - eat, rates, power etc.

  6. #16

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    Quote Originally Posted by Glenn View Post
    . Despite spending all that money the service we delivered was terrible.
    Well, there have been some changes since your "Gliding on" days.
    Shorts and long socks excluded of course.
    I am not unhappy with the service Meridian delivers.
    As for foreigners owning the shares. Would it be better if the foreigners lived in Auckland.
    I don't think the huge overseas funds which own Meridian are about to headquarter themselves in Albany any time soon.
    (Albany NY perhaps, but not Albany NZ)
    Last edited by speights boy; 18-02-2015 at 02:43 PM.

  7. #17
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    Quote Originally Posted by Wayne View Post
    When the Post Office became Telecom NZ (the final version) and privately owned they changed what they did and made more money (not to mention being a monopoly).
    Meridian hasn't changed what they do.
    The Govt always got lots of money in - more than enough to cover the cost of borrowing.

    Shares owned overseas means the dividends go straight out - a drain on the balance of payments.
    What you say is true. Actually Telecom / Spark are also terrible. But it is a different sort of terrible to the Post Office terrible.
    That is the difference. You should have seen what I got up to wasting all that money and writing idiotic letters to wellington (with a small w) begging for some equipement the big boys were sitting on for their own special projects. Politics and political favours got us the money for our projects. That is why Nelson was so terribly backward when I arrived here. The more favoured areas of the country got all the money and all we got was hand ons. I still remember the special day they provided us with a handheld calculator. That was a big thing for them. Up until then we had all had to purchase our own. With idiots running the money side of the organisation the service was doomed.

  8. #18

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    Well if this does come to pass, John Key's offshore fund manager mates will be thanking all NZers for their generosity.
    Meanwhile our own State coffers could be hundreds of millions short, plus missing out on all those lovely tax paid dividends.

    Oh, did I mention shares sold offshore at $1.00 now $1.98.
    No wonder foreigners love us so much....we are such a generous and giving lot.

    Meridian pencils in $625m capital return
    Meridian Energy has raised its dividend and says it intends to return $625 million of capital to shareholders over the next five years provided July 1 passes, as it hopes, without Rio Tinto giving notice it intends to close the Tiwai Point aluminium smelter.
    .........
    Meridian has declared an interim dividend of 4.6c a share, up from 4.2c a year ago, plus a special dividend of 1.4c, both fully imputed.

    It has sweetened its ongoing dividend policy to pay out 75 to 90 per cent of free cash flow, up from 70 to 80 per cent previously.
    http://www.nzherald.co.nz/business/n...ectid=11404245

  9. #19
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    Quote Originally Posted by speights boy View Post
    Oh, did I mention shares sold offshore at $1.00 now $1.98.
    No wonder foreigners love us so much....we are such a generous and giving lot.
    Well if you are Australian or European the return is far greater than 98%. There was a great dividend last year and also the NZ currency has shot through the roof.
    Of course the off shore people were not permitted to buy the shared from the Government at a $1 per script. They would have had to buy them off a NZ shareholder.
    I have not thought about all those terrible foreigners owning the shares. But do not forget they now have to pay another NZ$ 0.50 per share. So that will bring in plenty more to the Government. They will have to buy NZ dollars to do that so again what is going to happen to our currency? Up it goes. That will make my next holiday in Europe even cheaper. Is that not a good thing.

  10. #20

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    Quote Originally Posted by Glenn View Post
    Of course the off shore people were not permitted to buy the shared from the Government at a $1 per script. They would have had to buy them off a NZ shareholder.
    Are you absolutely 100% sure about that ?


 

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