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Re: [sharechat] What to do with WRI cash

From: "" <>
Date: Sat, 22 May 2004 12:38:50 +1200

Hi Karyn,

>Hi Snoopy
>I bought WRI for the high yield, but then they cut the dividend,

FY2003:  Dividend= 3.5c + 8c= 11.5c
FY2004:  Dividend (Proj)= 2.5c+ 6c+ 3c= 11.5c

The 3c special dividend WRI are projecting actually restores the 
dividend to the same as last year.  WRI should have enough 
imputation credits on the books to make the whole dividend imputed 

> The fall from
> $1.45 to $1.20 meant I lost capital, whereas getting out at $1.50
> preserves it, rather than watching it hit the skids again.  

Norgate is only offering to buy some of your shares at $1.50.  Not all.  
It's a partial takeover.

>On the
>other hand, PGG, RNS and FPA share prices have moved up 
>over the past few months and maintained or increased their 

But have they increased their yield?    If the share prices have 
advanced I suspect probably not.

> I see Norgate's strategy is for WRI to become an international player
> - this usually spells the kiss of death for a kiwi company :-)

Do you have a reference for that?    I haven't seen Noragte commit to 
anything on paper as to what he is going to do.


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on Pegasus Mail version 4.02
"Q: If you call a dog tail a leg, how many legs does a dog have?"
"A: Four.  Calling a tail a leg doesn't make it a leg."

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