Share Price at close of trading yesterday: $0.986

FAQs

How is the Dividend Rate calculated?

The dividend rate is the three year interest swap rate, plus a margin of 1.70%.  The dividend rate formula is defined in the Investment Statement and Prospectus dated 31 January 2008.

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How often is the Dividend Rate set?

The dividend rate is reset every 3 years.  The most recent reset was on 12 March 2014, where the rate was set for the three years commencing 12 March 2014.  This rate will be applicable through until 12 March 2017, at which point the rate will be reset once more. 

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What is the current Dividend Rate?

The current rate, as set on 12 March 2014, is 5.88%  This rate is applicable until 12 March 2017, when the rate will be reset again. 

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How is Quayside performing?

Quayside remains a majority holder in the Port of Tauranga Limited, New Zealand's largest exporting port.  Quayside reported to the NZX an audited consolidated profit after tax of $97.4 million for the year-ended 30 June 2015.  Please refer to the publications section for a copy of our latest financial reports. 

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How can I buy more or sell my units?

 

Quayside Holdings Limited Preference Shares are listed on the NZDX (at www.nzx.com - stock code QHLHA), and can be traded through your broker.  Refer to the following link for a list of brokers in your region:

https://www.nzx.com/investing/find a participant

Further information about your current holding in Quayside Preference Shares can be obtained from Computershare Investor Services. Please email Computershare on enquiry@computershare.co.nz.

 

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How can I change my address?

Our member register is maintained by Computershare.  Please email them at enquiry@computershare.co.nz or phone on +64 (09) 488 8777 to change your communication preferences.

 

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I no longer want to receive an annual report

Our PPS communications are managed by Computershare.  Please email them at enquiry@computershare.co.nz or phone on +64 (09) 488 8777 to change your communication preferences. 

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I wish to receive communications and annual reports by e-mail

Our PPS communications are managed by Computershare.  Please email them at enquiry@computershare.co.nz or phone on +64 (09) 488 8777 to change your communication preferences. 

 

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What sort of investment is it?

The securities are Perpetual Preference Shares.  Perpetual Preference Shares have no fixed term and are not redeemable.  Dividends are paid on the shares quarterly in arrears.  The shares carry no voting rights.

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Can the shares ever be cancelled?

The shares can/must be repurchased by the Bay of Plenty Regional Council (100% owner of Quayside) under the following scenarios:

Put option exercised by shareholders - Shareholders may, by special resolution, require the Bay of Plenty Regional Council to purchase back the shares at $1, in any of the following events:

  • Quayside Holdings fails to make a dividend payment within 5 business days of the dividend date;
  • Quayside Holdings ceases to carry on business;
  • Quayside Holdings is subject to insolvency, liquidation, receivership or similar.

Call option exercised by the Bay of Plenty Regional Council, under the following two scenarios:  

  • The Council can choose to buy back the shares at any time, so long as at least 100 million shares remain uncalled.  The purchase price will be the greater of $1 or the average price that the shares have been trading at on the NZDX over the 10 preceding business days;
  • The Council can choose to buy back all the shares if there is a 'Change in Relevant Regulation' (for a definition of this refer to the investment statement), which has a material effect on the regulatory or tax treatment of the Perpetual Preference Shares, or increases the cost to Quayside of maintaining the shares.  The purchase price in this instance will be $1.

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Will tax already be paid on my dividends?

Yes - dividends are expected to be fully imputed, meaning the tax on the dividend is already paid for you .  The cash amount you can expect to receive is the dividend, less 28% tax (being the current company tax rate).  A dividend certificate will be received which shows you the gross amount of the dividend and the tax that has been paid on your behalf.  This information should be used when completing your annual tax return.

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