This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

VRL - Village Roadshow

Jump to new
So_Cynical said:
If the interim divi holds good for the final divi, that's a annualized return of around 9.5%
at the current SP...pretty good result...i was expecting the divi to be lower so was
pleasantly surprised.
Click to expand...

whats the go with their dividends, are they planning on starting paying both interim and final divs.

I looked at their dividend history and in the past they have always only paid either a final or an interim never both until maybe recently.

what do you guys think of VRLPA the prefrence share, it is currently trading at a discount and has a minimum div of 10.75 cents ( provided a div is paid to VRL)
 
Does any one know where you can find info on village roadshow pictures profit and loss.

I would like to see figures of the cost of production of each film and the revenue generated both by each flim, but also the on going revenue of the library.
 
So_Cynical said:
I took the punt today...i figure the SP just cant go much lower. :dunno:
Click to expand...

Well they did go a little lower a week later, however was interesting to see how
buyers appeared to be chasing the dividend since the announcement last week.
VRL's share price went clearly against the market, as it has done for the last 5 months.

Anyway took 90% of my capital out toady @ 90c and left my 9.8% profit in.
 

Have you thought about investing in the prefrence share, It seems such good value, I can't see why it should be trading at such a big discount to the ordinary share when it has a minimum dividend of 10.75c or 3c more than the ordinary div which ever is higher.

Info on the pref share is scarce, so I was just wondering if there is somthing I am missing here.

All of vrl's share buy back have been aimed at the pref share also, which kind of points to the fact that management see it as being undervalued.

I am thinking of using this stock to bring a bit more cashflow to my portfolio while also having exposure to vrls great assets.

it's currently trading at less than 60c which means it has a dividend yield of about 18%.
 

I didn't know there was a preference share....looks interesting

VRLPA - VILLAGE ROADSHOW LIMITED - CLASS PREFERENCE
  • Market Cap: 56,640,162
  • Issued Shares: 97,655,451
  • 52-wk High: 1.85
  • 52-wk Low: 0.49

Interesting that while management hold about 60% of ordinary shares they hold almost
no preference shares...over 75% of preference shares are held by instos...ANZ, USB,
HSBC, CITI etc.

Has consistently payed higher dividends than the ordinary shares...yet trade well
below the ordinary's at the moment, and has done for 8 or so months.
 

Attachments

  • VRLvVRLpref.JPG
    90.4 KB · Views: 166
So_Cynical said:
Interesting that while management hold about 60% of ordinary shares they hold almost
no preference shares...
Click to expand...

The pref shares Have no voting rights attached to them, So the kirby brothers (management) wouldn't be interested it accumulating them.

How ever they have been investing in them indirectly Through VRL's on market share buy backs all year which has been targeting the prefrence shares and not the ordinary shares, Which makes sense for them to do, Why buy back an ordinary share when you can buy back a pref share for less and then not have to pay out the 10.75c dividend into the future, clearing pref shares means there is more funds to pay divs to ords.
 

Thanks for that analysis Tyson...makes perfect sense ...ive added VRLPA to my
watchlist rotation and will follow with some interest.

_____

Also Tyson im wondering if u would like to give us your thoughts on VRL's debt position,
im thinking they would love to raise some money from somewhere....however i cant see
a way they (kirby brothers) can do this without diluting themselfs or having to put alot
of there own money in.?
 
VRLPA usually trades little. Today, there was large volume, mostly one big trade:

29-07-2009 12:54 PM $0.600 1879509 $1,127,705.400 Crossed
 

I havn't taken a close look at the debt position for some time, from memory there was a fair bit of debt, but alot of it is held at the asset level. A couple of the assets operate on low interest cover which is a bit of a worry, But I believe the worst of the GFC is over so it shouldn't be a problem.

Another thing I find comfort in is that the kirby bros have such a vested interest that they are going to do everything possible to maintain value and not conduct any suicide capital raisings, and if they did have to it would be good terms for share holders.

I have real confidence in the kirby bros management style, they know theirs assets and have proven them selves very astute managers, Saying that I am annoyed with my self for selling out at $1.05. I just hope the stars line up again and I can buy back in sub $0.90
 
VRL & VRLPA up significantly today on the announcement of a proposed management buyout/takeover, John Kirby, Robert Kirby and Graham Burke, want to go from 61% to 100%...early days yet and many details to come.

http://www.villageroadshow.com.au/press_releases/pdf/Project Darwin 100809.pdf

I expect there is some chance of more significant SP upside to come. :dunno: so glad i brought in at
82 cents, even happier i gave the trade time to come good.
 
Tysonboss1 said:
Have you thought about investing in the prefrence share, It seems such good value
Click to expand...

I've got to say thanks for that reminder. I'd stopped watching the prefs ages ago and hadn't realised that they'd lost so much ground to the ordinary shares in recent times.

Be happy to buy you a ton of drinks sometime, esp. as my VRLPA buy of a couple of weeks ago is up over 100% now.
 
Kremmen said:
Be happy to buy you a ton of drinks sometime, esp. as my VRLPA buy of a couple of weeks ago is up over 100% now.
Click to expand...

WD Krem...great timing.

Anyone got any ideas about what sort of price the Kirby's etc would be prepared to
pay, i wouldn't know where to start trying to figure out fair value etc. :dunno:
 
So_Cynical said:
i wouldn't know where to start trying to figure out fair value etc.
Click to expand...

Surely they have only made this move because they think the company is way under-valued? Book value as of Jun 08 was $4.80/share.

In the past, obfuscation of finances seems to have been part of their way of running things. Dividends have been highly variable (between 3.75c and 34c), which makes it even harder. They have almost always exceeded analysts' expectations on earnings, sometimes by huge margins.

If an offer comes, depending on the quantity of franking credits available, they could pay a large dividend as part of the deal. That would make it attractive to shareholders to accept a lower price than we would for an all-cash buy out.
 

:bonk: unfortunatly for my self I sold out at $1.05 to buy another stock (which hasn't done to badly $1.20 to $1.79).

The idea rumors that the kirby brothers want to privatise have always been in the back ground, and at current prices it is probally a good time,

I wonder what the offer price will be, it will be sad to see this company leave the market, I think it's a great mix of businesses.
 
Kremmen said:
Looks to me like it may have all just been a ploy to ramp their own shares. There's been massive turnover, for sure.
Click to expand...

Yeah it could be a ploy, But it makes me wonder why they would want to ramp up the price considering they have been purchasing at such good levels though the buy back .

maybe they were close to a margin call.
 
Tysonboss1 said:
Yeah it could be a ploy, But it makes me wonder why they would want to ramp up the price considering they have been purchasing at such good levels though the buy back .

maybe they were close to a margin call.
Click to expand...

Recent shareprice movements don't support that theory.

If anyone was close to a margin call it would have been back in May when the SP was around 77-80c.

Perhaps it was a genuine buy-out attempt that didn't get off the ground. Or is that just me being naive?

Disc: Not a holder.
 

The margin call wouldn't have to be on VRL, it could be on another investment they were using vrl as security for, or perhaps they wanted to boost the price so as to allow them to borrow more for another investment.

Any way I think informing the market so prematurly was a mistake. if I were them I would have just kept quitely buying the prefrence share through the buy back as they were.
 
Massive on-market buy-back for VRL and VRLPA during November announced today, so both shot up about 20c.
 
You must log in or register to reply here.

Similar threads

Electricity investments
Replies
8
Views
504
Smurf1976
February 2025
2
Replies
34
Views
2K
ducati916
August 2024 DDD
2 3 4
Replies
75
Views
19K
ducati916
January 2025 DDD
5 6 7
Replies
126
Views
8K
ducati916
Free Speech... and pr0n
2
Replies
26
Views
1K
wayneL
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...