TWR - Tower Limited

[Jay-684]

TOWER (TWR) - Whats happened?

Just checked out my Comsec portfolio, and it says Tower Limited has dropped 100% to $0.00!!!

anyone know what the deal is with tower? or is this just a commsec typo.

I've already lost on ION going belly up, Tower would make things even worse

 

[markrmau]

Re: TOWER (TWR) - Whats happened?

my guess is that there will be a new stock code after the merger or whatever it was. Cheers, Mark.

 

[RodC]

Re: TOWER (TWR) - Whats happened?

I think you should be looking at TWRDA now.

Comsec will probably update your portfolio by tomorrow.

Rod.

 

[Dabas]

It looks to me as if the split of TWR caused me an approx loss of 7% in the value of my shares. (Comparing TWR + TAL + TALR with the value of TWR before the split)

Am I missing something?
Does a devaluation like this usually happen after a split?

Thanks

Dabas

 

[tronic72]

Can anyone explain why this stock is an investing no-go zone? I've looked into it a few times and can't explain why the share price has done so badly. This seems to be a well run profitable business.

Just at the look at their figures and their profit is up

Am I missing something?

"FOR ANNOUNCEMENT TO THE MARKET

Total Revenue from continuing operations up 0.5% to NZ$240.6 million.

Net profit after tax from continuing operations attributable to shareholders increased NZ$4.8 million
(+44%) to NZ$15.7 million.

Net profit after tax attributable to shareholders (including discontinued operations) increased 561%
to NZ$214.5 million.

Earnings per share on continuing operations increased by 44% to NZ8.33 cents per share (NZ5.78
cents per share in corresponding period on a like for like basis).

No interim dividend has been declared and as such no dividend will be paid for the six months
ended 31 March 2007.

Net Asset backing as at 31 March 2007 was NZ$1.28 per share (NZ$1.70 per share as at 31
March 2006). "

Looks good to me.

 

[Fool]

Stock code: TWR

TOWER LIMITED

Current Price $1.510

About the company
Tower Limited (TWR) provides a comprehensive range of risk insurance and wealth management products and services to customers throughout New Zealand and the Pacific Islands. Products and services include life and general insurance, superannuation, retail managed funds and master trusts.

Insurance Market Cap $385 Million

Shareholders Buying
Date Shareholder Previous % New % Shares Traded
28-04-09 Orbis Group 5.02% 6.33% 2,628,272
02-10-09 Orbis Group 6.33% 7.68% 7,328,827

Shareholders Selling
Date Shareholder Previous % New % Shares Traded
No Shareholder Activity

P/E Ratio - 7.69

See todays announcement "TOWER Dividend"

“TOWER advises that a final dividend of 9 cents per share will be paid on 2 February 2010 (Payment
Date) to all shareholders as at 5pm on Friday, 15 January 2010 (Record Date).

Dividend Yield of 5.96%, pretty good for a $1.5 stock.

DYOR

 

[oldblue]

Yes, TWR's made a good recovery over the last year or two. The SP responded appropriately yesterday.

With GPG holding 35% of the stock there's the prospect of corporate action at some stage.Would TWR be the aggressor or the target?

 

[Tommy Shelby]

Pretty quiet thread on this company.

Tower is an insurance company servicing NZ and Pacific region, can't be easy with the number of earthquakes etc and example being the volcano eruption in Tonga.

Profit guidance for $21-$25m at a current MC of $264m = P/E of between 10.5 - 12.5 and 6% dividend yield.

TWR has IRD approval for a return of capital to shareholders via share buy back. at NZ$.72 the company will be paying $0.67 AUD for 1 of every 10 shares held.

Shame it isn't in the ASX300 - would be tempted to add into the super fund

 

[divs4ever]

Tower places additional reinsurance reinstatement cover
Kiwi insurer, Tower Limited (NZX/ASX: TWR) today announces it has successfully placed additional
reinsurance reinstatement cover for the remainder of the financial year ending 30 September, 2023.
Tower recently indicated it would purchase additional catastrophe reinsurance to cover the increased
estimate for the ultimate cost of February’s Auckland and Upper North Island Weather event. This action
aligns with Tower’s comprehensive approach to reinsurance.
Prior to this reinstatement, Tower had protection for a potential third catastrophe event up to $889m in
the financial year. This additional purchase of $100m of cover reinstates protection for a fourth
catastrophe event up to $889m in the financial year.
Tower has sufficient reinstatement cover for Cyclone Gabrielle claims.
Tower will provide further details on its reinsurance programme at its half-year results presentation on
25 May 2023.


================================================================================

DYOR

i hold TWR ( i dipped my toe in the water October 2022 @ 55 cents )

several reasons to be cautious here ,

a relatively illiquid stock

FX risk since the company mainly operates in NZ ( 'old shakey ' )

no franking credits

but then what is a 'safe' jurisdiction to invest in these days

 

[divs4ever]

Johns Lyng Group announced an agreement to provide building repair services to Tower Insurance as part of its NZ panel.
Tower is a trusted and established NZ brand, having started operations more than 150 years ago.
Tower is co-listed on the NZ and ASX.

i hold TWR

 

[divs4ever]

Tower Updates Guidance

Kiwi insurer, Tower Limited (NZX/ASX: TWR) has today updated its earnings guidance on underlying net profit after tax (underlying NPAT) for the year ending 30 September 2024.

Tower’sFY24 full year underlying NPAT guidance is expected to be greater than $40m, up from greater than $35m as previously advised.

This increase is due to a continuation of positive trading conditions including unseasonably benign weather in the past two months.

While there were two storms in New Zealand in May, both had relatively insignificant claims costs for Tower, and the threshold for large events was not met.

This updated guidance assumes full utilisation of the FY24 large events allowance which is conservatively set at $45m.

No large events have been recorded in the financial year to date.

Any unused portion of the large events allowance at year end will increase underlying NPAT to improve the full year result.

For example, if there were no large events in FY24 underlying NPAT would be increased by an additional $32m ($45m less tax).

ENDS

This announcement has been authorised by Blair Turnbull, CEO, Tower Limited.

i hold TWR ( i dipped my toe in the water October 2022 @ 55 cents )

 

[divs4ever]

Tower and Kiwibank sign referral agreement

Kiwi insurer Tower (NZX/ASX: TWR) announces it has entered into a referral agreement for general insurance products with Kiwibank for its retail banking customers.
The agreement is for an initial term of five years.Under this arrangement, Kiwibank customers choosing to insure with Tower will insure their assets directly with Tower via Tower branded policies.

Tower CEO, Blair Turnbull says, “We’re thrilled about the opportunity to welcome Kiwibank customers to Tower and to be joining forces with another Kiwi born and bred business.“This referral agreement presents a strategic opportunity for Tower and aligns with our focus on growing our home insurance portfolio.

”Kiwibank Chief Executive Steve Jurkovich says, “We’re excited about entering this new partnership with Tower and to be able to support our customers to have the right protection in place which goes to the heart of our purpose of Kiwi making Kiwi better off.”
Tower has referral agreements in place with several other New Zealand organisations, including the Kiwi Adviser Network, New Zealand Financial Services Group and Trade Me, among others. These relationships have introduced more New Zealanders to Tower products.No regulatory approvals are required to proceed under the agreement

.ENDS

This announcement has been authorised by Tower Chief Executive, Blair Turnbull.

i hold TWR ( i dipped my toe in the water October 2022 @ 55 cents )

 

[debtfree]

Quick chart update. Going along nicely for you @divs4ever, nice pick up.

 

[divs4ever]

Quick chart update. Going along nicely for you @divs4ever, nice pick up.

View attachment 179274

was hoping for a creaky 'channel trader' but this will do nicely thanks

after all insurers are just one disaster away from the next big dip

 

[debtfree]

was hoping for a creaky 'channel trader' but this will do nicely thanks

after all insurers are just one disaster away from the next big dip

Well that's true and they've had a pretty good run the last 3-4 years so it must be nearly due. now that was naughty, sorry mate.

 

[divs4ever]

Well that's true and they've had a pretty good run the last 3-4 years so it must be nearly due. now that was naughty, sorry mate.

no problems here ,

just explaining to anyone tempted the risks they are taking on , it is easy to discount history in making investment decisions

insurance companies would like you to forget that they gamble on good runs ( not productivity )

 

[divs4ever]

Capital Return to Shareholders –

Initial Court Orders Received On 6 September 2024 Tower Limited (Tower) announced a proposed NZ$45m capital return by way of a Court approved scheme of arrangement.

Tower has received initial orders from the Court to, amongst other things, put the capital return to shareholders at its ASM on 11 February 2025 for their consideration and approval.
As previously announced on 21 October 2024, IRD approval has already been obtained that no part of the capital return is in lieu of the payment of a dividend.

The scheme will involve Tower’s shareholders:
• having one (1) share cancelled for every ten (10) shares held (together with all rights attaching to those shares) on the record date.

Fractions of a share will be rounded up or down to the nearest whole number (with 0.5 rounded down); and

• receiving a cash sum of NZ$1.1858 for each share cancelled.

Australian registered shareholders will receive these funds in Australian dollars at an exchange rate approved by Tower on or about the record date and organised by Tower’s share registrar.

The scheme is also subject to the Board, at its sole discretion, remaining satisfied that Tower is complying with solvency and regulatory capital requirements, including under its capital management process requirements, and that it remains prudent to undertake the scheme, in each case, up to the time the scheme is given effect by cancellation of shares, expected to be in March 2025 (Key Scheme Condition).If shareholder approval is received, Tower intends to seek final orders sanctioning the scheme from the Court.

If these final orders are received in mid March 2025 and the Key Scheme Condition is satisfied,payment of the capital return would be made in early April 2025.

Exact dates will, however, be confirmed closer to the time of payment.

ENDS

This announcement has been authorised by Michael Stiassny, Board Chair.

i hold TWR ( i dipped my toe in the water October 2022 @ 55 cents Australian )

 

[divs4ever]

Tower updates FY25 guidance

i hold TWR

 

[divs4ever]

Tower Appoints Paul Johnston as Permanent CEO

i hold TWR

 

[divs4ever]

Tower updates FY25 guidance



i hold TWR