- The NZX is bustling with numerous stock stories, which are of the interest of investors and traders.
- Argosy Property notifies the investors about its dividend reinvestment plan strike price.
- Infrastructure bonds (IFT310) being allotted by Infratil.
- Livestock Improvement Corporation completes the divestment of its automation business.
Stock markets worldwide are highly volatile. They are affected by numerous factors, be it company announcements, change in federal government's policies, natural calamities, investor sentiments, and exchange rates, etc.
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With the background, let us dig into some of the popular NZX stories that keep the investors hooked on the board.
Argosy Property Limited (NZX:ARG)
First on the list is property company Argosy Property Limited, which manages quality commercial, industrial and retail properties. The Company has announced a strike price of $1.5183 per share for the Dividend Reinvestment Plan.
It is noted that ARG will distribute a final dividend of 1.613 cps on 23 June this month.
On 15 June, the shares of Argosy Property gained 0.96% and settled the day at NZ$1.570.
Infratil Limited (NZX:IFT)
Another company functioning in the infrastructure investment space is Infratil Limited. The Company today allotted its Infratil Limited Infrastructure Bonds (IFT310) carrying a fixed interest rate of 3.60% p.a. to mature on 15 December 2027.
It is noted that on 25 May, IFT had announced the above-mentioned bond offer of NZ$50 million with an oversubscription of up to NZ$50,000,000.
Moreover, the holders of IFT220 Infratil bonds (to mature today, i.e. 15 June) have the option to swap each IFT220 bond for one IFT310 bond.
On 15 June, Infratil rose 1.45% and closed the market session at NZ$7.710.
Serko Limited (NZX:SKO)
Third, we will be looking at Serko Limited, the Company operating in the travel technology space. It has announced to hold its Annual Shareholders Meeting on 18 August this year.
Further, SKO has notified that the last day for sending director nominations is 30 June 2021.
On 15 June, Serko winded up the trading session flat at NZ$7.400.
Livestock Improvement Corporation Limited (NZX:LIC)
Following that, we have a multinational dairy company, Livestock Improvement Corporation Limited. Like most of its peers, LIC too is making headlines because of its recent announcement on completing the divestment of its automation business to MSD Animal Health.
Further, its Chief Executive, Wayne McNee, has sought a departure from the Company towards the end of November 2021 after being in the role for 8 years.
On 15 June, by the closing bell, Livestock Improvement Corporation fell by 1.67% at NZ$1.180.
Cavalier Corporation Limited (NZX:CAV)
Last on the list, Cavalier Corporation Limited is famous for its carpets and wool procurement business.
Hinting at its support and adopting a national wool standard, the Company’s famous Bremworth brand has signed up with New Zealand Farm Assurance Programme (NZFAP), which ensures customers about integrity, environmental sustainability, and welfare of NZ’s primary sector products.
Apart from its quality, because of signing up with the NZFAP, Bremworth’s customers would now be assured of the authenticity of the products, which also meet animal welfare standards.
It is noted that Bremworth has started procuring NZFAP-accredited wool and is progressing towards sourcing 100% of its wool from certified sources.
A decline of 4.65% was observed in the shares of Cavalier Corporation, which closed the market session at NZ$0.410 on 15 June.