Forum Archive Index - August 2000

["Ben Dutton" <bendutton@sharechat.co.nz>]

Margie - TEL previously had a policy of distributing at least 70% of net
earnings in dividends - I don't however have the exact % figures from the
last few years in front of me.

Can anybody else help?

Ben

----- Original Message -----
From: "richard hermans" <r.m.hermans@xtra.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Tuesday, August 15, 2000 12:42 PM
Subject: Re: [sharechat] TEL Drops Dividend


> Ben, what % was paid out in Divs previously ???just curious. I tried to
> get in & buy at 7.20  by time Id lodged the buy for 7.25 they were
> already past that mark !!!moved fast off its bottom level; Regards
> Margie
>
> Ben Dutton wrote:
> >
> > Extract from TEL Press Release
> >
> > Dr Deane said investments for future growth, including some yet to be
> > identified, require Telecom to maintain strong cash flows and financial
> > flexibility.
> >
> > "Given our growth outlook, a change in our dividend policy is now
> > appropriate," Dr Deane said. "Going forward, Telecom intends to make an
> > annual dividend pay out of around 50% of net earnings. This target will,
as
> > in the past, depend on the level of Telecom earnings and cash flows, and
on
> > any particular investment opportunities which might arise."
> >
> > **
> >
> > In light of the recent discussion on the ShareChat Forum with regards to
> > dividends, I find the above turn-around by Telecom interesting.
> >
> > Personally, I think that this change in strategy is a *good thing* for
> > Telecom's future as a competitive, flexible and expanding company.
> >
> > There could be downside (and TEL dropped like a stone after the market
> > opened this morning) as some investors sell, but IMHO this strategy will
> > ultimately pay off for TEL.
> >
> > I'd be interested in finding out other chatters opinions.
> >
> > Best Regards,
> >
> > Benjamin Dutton
> >
>
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