The methodology is historically consistent, in that TLS always seem to use a 5 trading day week soon after the record date, although I'm not sure why they used the second week of September 2024 in lieu of week 1 ... there may be a reason to do with school holidays or something.
This one doesn't seem to be working in favour of those who elect to go DRP, given that there have only been 3 days this year where the closing price has exceeded the DRP price, and only 5 days where the SP has exceeded the DRP price at any time during the day.
The escape clause is that the announcement always gives holders a couple of weeks to withdraw from the DRP, but most folk probably don't go to that trouble, especially since the DRP price will not be known at that time.
Interestingly, the big banks seem to use a much longer period (CBA > 20 trading days). I'm guessing that's because the banks are better at maths.
Finally, I did a small study using CBA, and found that the DRP price exceeded the average price in the 'Payment Week' in about 70% of cases.
TLS Price at posting:
$4.10 Sentiment: Hold Disclosure: Held
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