It changes every day because it is tied to Unibail Rodamco and the AUD/USD, AUD/EUR exchange rate.
Hold them for ever and hope One market goes from $0.10 to $100 one day
URW will pay a dividend and I hope to find out what that might be at the AGM on 24 May or tonight at the UL shareholder meeting. UL paid EUR 10.80 last year which is somewhere in the order of 4.2% (don't quote me on this figure as the share price has dropped and I am going of memory). An article I read said that the dividend is around 5% now, due to it's share price dropping. You have to combine 2/3 UL at 5% with 1/3 WFD at 3.63%. I think it's about 4.5% at the moment.
UL has been going sideways since 2014, much like Wesffield. I think that URW will increase value each year, it's about the timing of the exchange rates. If you think that the EUR will get to 0.8 and USD to parity then wait until URW is $11 before you buy.
The way I see it is URW will add value each year ($10+ billion in development work, increase in property value, increase in rents), if the exchange rates go north then I hope the added value to cancel out the exchange rate changes. Interest rates are low and dividends cover the interest on borrowings or pay better interest than the bank if you have the cash. One day when the AUD dropp, sell them (say AUDUSD 0.5 and AUDEUR 0.5). I have purchased my shares for the long term (30 years).
There are no franking credits so any tax URW paid won't be coming back. Tax will be taken out of your dividends if you don't tell the sponsor of your holding your tax file number as far as I am aware.
WFD Price at posting:
$8.94 Sentiment: Hold Disclosure: Held
