In the half year back in Feb they were forcasting $800mNZ profit for the year before tax and they have the sale of Virgin which if that happens before June 30 means they can give an even bigger dividend - just can't work out why this isn't back up in the hid to high $2's if not $3's... maybe this is a push down to flush out weak hands?
The FX will work better for us to going forward as our dollar keep coming down - $1NZ is now translating into nearly 93cAUD and the way its looking will go lower so we may get close to parity...
MF gave Air New Zealand yet another plug - CommSec are forecasting 28c FY2016 dividend plus we may get the special dividend as well from Virgin sale - buying at $2.20 for that kind of return even allowing for FX is a no brainer... thats 10% return in this market!!
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