Share table

Press, 13 May 1987, Page 48

Share table

“The Press” N.Z. sharemarket table — printed on Wednesday and Saturday — shows in the first two columns the highest and the lowest price at which each issue has traded during the calendar year, and the last four columns show a number, of ratios of interest to investors. Dividend yield is the percentage relationship between the dividend and the market price of the share. For example, if a share with a par value of 50c and a current market price of 175 c pays a dividend of 21 per cent (10.5 c this gives a yield of 6.0 per cent (21 times 50 divided by 175). Similarly, the earnings yield represents the relation-

ship of the company’s earnings a share and the market price. The earnings yield and the dividend yield relate to each other as the dividend cover. The price-earnings ratio (P/E) is the division of earnings a share into market price, and therefore tells at how many “years” purchase the share is selling. The net asset backing a share is the amount of shareholders’ equity (or net worth — i.e., assets minus liabilities) per share. The week’s highs and lows in the Wednesday table relate to the trading days from the Tuesday of the previous week. In the Saturday table the week’s highs and lows are for the trading days in the week ended Friday.