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Namoi Cotton Co-Op (NAM) will go ex dividend on 5/11/2009. The current dividend payment is 2.5 cents and it is 0% franked. The record date is 11/11/2009 and the dividend will be paid on 16/12/2009. Based on the full year payment the dividend yield is 7.9%.
*Current Yield: 5.6% Franking: 0% DRP Discount: 0%
*Yield has been calculated on the closing price on the 30/10/2009. Current yield is based on the current dividend payment only.
ANZ Banking Grp Ltd (ANZ) will go ex dividend on 5/11/2009. The current dividend payment is 56 cents and it is 100% franked. The record date is 11/11/2009 and the dividend will be paid on 18/12/2009. Based on the full year payment the dividend yield is 4.4%.
*Current Yield: 2.4% Franking: 100% DRP Discount: 1.5%
*Yield has been calculated on the closing price on the 30/10/2009. Current yield is based on the current dividend payment only.
CSR Limited (CSR) will go ex dividend on 4/11/2009. The current dividend payment is 2.5 cents and it is 100% franked. The record date is 10/11/2009 and the dividend will be paid on 23/12/2009. Based on the full year payment the dividend yield is 2.1%.
*Current Yield: 1.3% Franking: 100% DRP Discount: 2.5%
*Yield has been calculated on the closing price on the 30/10/2009. Current yield is based on the current dividend payment only.
Lihir Gold Limited (LGL) will go ex dividend on 2/11/2009. The current dividend payment is 1.5 cents and it is 0% franked. The record date is 9/11/2009 and the dividend will be paid on 30/11/2009. Based on the full year payment the dividend yield is 0.5%.
*Current Yield: 0.5% Franking: 0% DRP Discount: Not Available
*Yield has been calculated on the closing price on the 30/10/2009. Current yield is based on the current dividend payment only.
Presented by Michael Hevern
MDSFinancial
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General Advice Only
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In this morning s wrap
DOW: up 2.1% – Just Below 10,000
3Q GDP at 3.5% Annualised;
Sparks Recover
Dollar Index: Finds Support
US$ Reveres;
A$ up 91.6
FTSE: up 1.1% (Off 13 Month High)
Banks & Materials Recover;
DAX up 1.7% & CAC up 1.4%;
CHINA: down 2.3%
China: Banks 3Q Profits Up; Sinopec 3Q Income -25%;
Hang Seng down 2.3%;
Oil: up 3.3% ($80)
Oil Recovers
Gold: up 1.7% ($1047)
Commodities Higher;
Dollar Lower
SPI Futures up 81 points (1.8%)
Bounces
ASX News
ANZ FY profit down 11%; outlook banks turn around
BHP Will not see benefits of rebound till mid-2010
Myer IPO price $4.10 lower end of range
LGL on track for 1 to 1.2m tonnes for year
NCM Pursuing acquisition; Gold to stay US$1,000+
MQG – misses
Materials, Energy & Bank all to see recovery
ASX to open higher
US & UK US GDP Surprise
The US markets finished higher recovering the previous day’s losses. The Dow closed up 199 points or 2.0% at 9962, the S&P500 was up 23 points or 2.2% at 1066 and the Nasdaq was up 38 points or 1.8% at 2097.
Over Fifty Group’s (OFG) property funds management subsidiary, Century Funds Management, is back on the acquisition trail, exchanging contracts to purchase the office component of a new 19 level mixed use building at 131 Grenfell Street Adelaide for $16.4 million. The acquisition for OFG’s new unlisted property fund is a 4,052 square metre property leased over a 10 year term to the South Australian Government and will be occupied by the Department of Infrastructure, with annual 4 per cent rent reviews. The acquisition takes OFG property funds under management to $895 million and total funds under group management to $1.9 billion.
CEO of OFG, Mr John McBain said, “Century has been cautious over the past 18 months and while many properties have been reviewed, none were purchased. It is only now that we are seeing good quality investment grade property entering fair value range. “It is helping the property group that we have fewer competitors for these sorts of properties. We are one of the few direct property players with the ability to purchase in the current market and the prospects for OFG further increasing its funds under management are extremely positive.
At the same time OFG Friendly Society bonds are experiencing a resurgence of interest as their tax effective benefits become increasingly attractive in the light of recent changes to regulations which restrict the amount individuals can contribute to superannuation. OFG is developing a range of new bonds to be released to the market following regulatory approval.
Intec Ltd (INL) is pleased to announce that it has signed a Memorandum Of Understanding with Guangdong GuangYe Assets Management Co., Ltd. for the formation of an incorporated joint venture to identify and develop secondary resources project opportunities in Australia and China, using the Intec Process and taking into account Intec’s current activities in those countries. GuangYe was established in 2000 to manage the assets of the Guangdong Provincial Government. With registered capital of 1.3 billion RMB (approximately US$190 million), it operates in 12 industry- specific divisions, through more than 150 subsidiaries or affiliated companies, and employs over 18,000 people. GuangYe has a mandate to seek investments into Australian ‘enabling technologies’ and ‘secondary resources’ projects.
On 27 October 2009, the People’s Government of Guangdong Province, together with The Government of the Hong Kong Special Administrative Region, hosted the significant ‘Hong Kong – Guangdong Business Conference in Sydney 2009’. This celebrated thirty years of sister state relationship between New South Wales and Guangdong, and was organised to encourage business networking for cross investment between these political regions. The MOU signed yesterday between Intec and GuangYe envisages that both parties will work towards establishing a joint venture company to provide advisory investment services to GuangYe for the purposes of identifying and assessing economically robust mining, minerals processing, and industrial residues/wastes processing opportunities in Australia and China.; continue to research and develop the Intec technology platform for minerals processing and industrial residues/wastes treatment; identify secondary resource opportunities in Australia and China that are suitable for development using the Intec technology; acquire strategic equity positions in selected corporate and/or project opportunities, particularly where GuangYe funds will bring about rapid project development and/or alleviate funding costs from alternative sources. Yesterday’s signing of the MOU with GuangYe is substantially the result of ongoing efforts by Intec’s Chinese representative, Joe Lam, to identify and pursue project opportunities for the Intec Process in China, and for the establishment of corporate opportunities through links with Chinese participants. The MOU with GuangYe represents another success from these efforts, with separate discussions also now well-advanced for the previously-announced project opportunities using the Intec Process elsewhere in southern China.
Intec Ltd is an Australian company which owns the Intec Process for superior and sustainable metals production. The Intec Process comprises a set of patented chloride-based hydrometallurgical processes that have been demonstrated to produce high purity base and precious metals from concentrates of sulphide and oxide ores, tailings and industrial wastes. The Intec Process has substantial environmental and cost advantages over both the widely used conventional smelting and refining processes and other known hydrometallurgical processes. It is also expected that Intec’s intellectual property derived from its waste metals recovery technology will have broad application for mine tailings water, industrial waste water and waste sludge treatment, both nationally and internationally.
Ardent Leisure Group (AAD) today advises that the Group has entered into a contract to sell surplus land to the north of the Group’s Dreamworld site in Coomera, QLD to the Queensland Investment Corporation (QIC) for a sale price of $16.5 million in line with book value. The settlement of the sale is anticipated to occur in January 2010 upon the issue of a separate land title. Of the sale price a sum of $11.5 million will be paid upon settlement with the balance of $5 million deferred for 12 months. The parcel includes land zoned for Town Centre Core under the Coomera Structure Plan.
Group Chief Executive Officer, Mr Greg Shaw advised: “The sale is an important step for the Group. In the short term, sale proceeds will be utilized to further strengthen the balance sheet and provide additional capacity for organic growth opportunities as they emerge. The sale of the land and its anticipated development will ultimately create a connection between Dreamworld, the Coomera Town Centre retail component and the Coomera rail/bus transport hub. This connection will provide enhanced public transport access to Dreamworld and WhiteWater World for our Brisbane and Gold Coast patrons.”
Ardent Leisure Group is a specialist operator of leisure and entertainment assets across Australia, New Zealand and the United States. The Group operates Dreamworld, WhiteWater World, d’Albora Marinas, AMF and Kingpin bowling centres and Goodlife fitness centres across Australia and New Zealand. The Group also operates the Main Event family entertainment centres in the United States.
ANZ’s annual results provide a mixed bag of ups and downs.
The underlying profit for the year was up 10% to $3.37 billion, revenue was up 17%, but net profit fell 11% to $2.94 billion.
A sharp 29% rise in bad debts, mostly coming from New Zealand, is a weighty factor in these results. Institutional business, however, rose by a healthy 36%.
The full-year dividend will be 56 cents a shares, down 25% on last year.
CEO Mike Smith says the Australian economy remains fragile, and that caution would be prudent in the current environment.
Shares in ANZ have risen 53% this year, but have dropped on early trading this morning.
ANZ Banking Group
ASX Code: ANZ
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