Share table

Press, 26 July 1989, Page 34

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 change for the week is calculated from Tuesday close to Tuesday close (Wednesday table) and Friday close to Friday close (Saturday table).