Forum Archive Index - August 2000

["Talacek, Philip " <pjt57@elec.canterbury.ac.nz>]

The last couple of years they have paid out close to 100% of net earnings.
Though due to the massive +ve operating cash flows they generate that high
pay out has been quite manageable.  Until now that is.

> -----Original Message-----
> From: Ben Dutton [SMTP:bendutton@sharechat.co.nz]
> Sent: Monday, 14 August 2000 12:48
> To:   sharechat@sharechat.co.nz
> Subject:      Re: [sharechat] TEL Drops Dividend
> 
> 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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