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Showing posts from January, 2011

Stuff to do

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life passing you by?

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interesting

Key said Treasury would now go away and analyse whether it was a good idea to sell up to 50% of the three power generators (Meridian, Genesis and Mighty River Power) and Solid Energy through stock market floats to New Zealand investors..

The theory is that for the sale to make immediate sense then the dividends given up would have to be less than the interest costs of the debt not incurred by selling the asset.

A quick tally of the dividends received and the equity invested suggests it's a line ball call about whether selling the asset is better than borrowing.

Meridian Energy returned NZ$353.5 million in dividends to the government in the year to June 2010 and shareholder equity was valued at NZ$5.07 billion, which suggests a raw dividend yield of 7%. It reports its return on average equity at 3.9% and its underlying return on equity of 19.8%. Here's the annual report.

Mighty River Power reported an average return on equity in the year to June 2010 of 9.7%. It paid dividends …

bless

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Sponsorship knows no bounds

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What day is it

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fun is good

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hat tip to whaleoil of all peeps

again

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On hearing Grace is coming to auckland...

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come to the

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happy Martin Luther King, Jr. Day for yesterday

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nice

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I didn't get man of the year either.... again

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I'm Batman

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so so good

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The Dinner Date

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the first week feels like the longest ever

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Tune!

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hat tip to the one like heylady

back to reality

Summer Holidays

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2011

Morning!

and here we go again, happy new year

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