PGW specialises in agricultural supplies focusing on developing farming practises, investment in on-farm infrastructure and the development of new technologies. Its current dividend yield is over 10% and with the New Zealand cash rate set to be slashed over the coming months by up to 50 basis points high dividend stocks are set to be back in vogue.
PGW pays a dividend in excess of 10%
Its share price remains very stable
Strong thematics with its agriculture exposure
Possible takeover in the works
The diversified business management has built over the past 5 years is insulating earnings from temporary price fluctuations
PGW’s prospects are further bolstered by the chance that it is taken over in the near term. Chinese parent (Agria Corporation) already owns 50.22% of PGW. Agria Corporation notified the New York stock exchange of a non-binding takeover proposal received from its biggest shareholder Guanglin ‘‘Alan'' Lai, who also serves...
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