Smartcat - Portfolio Checkup

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smartcat
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Joined: 29/Mar/2007
Location: India
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Posts: 4243

Posted: 10/Sep/2009 at 9:13pm

DHFL is a consistently high dividend paying company - so no worries on management filling their own pockets.

Before listing in the stock exchange, my guess is all the real estate companies (except maybe Mahindra Lifespace) would have jacked up expenditure to show lower profit - so that they don't have to pay too much taxes.

Typical Indian businessman's mentality - and this happens a lot more than you imagine.

But such management generally become angels after listing - because then they want to show higher profit and hence gain higher marketcap.

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chimak10
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Joined: 30/Aug/2007
Location: India
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Posted: 10/Sep/2009 at 10:46am

DHFL has only given 2.5 Rs. as a dividend through mar-05 to mar-09.........the only Housing finance company that has not increaased its dividend Y-O-Y.

That was the one reason for me to ignore this stock.

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Hitesh Shah
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Joined: 12/Oct/2008
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Posts: 3656

Posted: 10/Sep/2009 at 11:25am

Are we all talking of the same company here (D company) Confused

Dividend

Year	Month	Dividend (%)
2009	May	25
2008	May	10
2007	Oct	15
2007	May	15
2006	Oct	-
2006	May	15
2005	Oct	10
2005	May	20
2004	May	25
2003	Jun	15
2002	May	15
2001	May	15
2000	Apr	10
1999	May	15
1998	May	14
1997	Jun	14

Stolen from Rediff Money

Edited by Hitesh Shah - 10/Sep/2009 at 11:27am

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smartcat
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Joined: 29/Mar/2007
Location: India
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Posts: 4243

Posted: 11/Sep/2009 at 4:52pm

DHFL has only given 2.5 Rs. as a dividend through mar-05 to mar-09.........the only Housing finance company that has not increaased its dividend Y-O-Y. That was the one reason for me to ignore this stock.

DHFL is a proper growth stock - that just happens to pay consistent dividends.

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smartcat
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Joined: 29/Mar/2007
Location: India
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Posts: 4243

Posted: 11/Sep/2009 at 4:58pm

In true RD style, I too bought a "basket of stocks" - from the banking sector.

Indian Overseas Bank

Karnataka Bank

Karur Vysya Bank

Rather than see it as a PSB or a local private bank, I see it as a FMCG brand like Dabur or Colgate. Just like there are people who buy only Dabur Red toothpaste or Colgate danthmanjan, these banks too have loyal customers who would not go elsewhere.

That's why you will see them grow at 15 - 20% every year, with an yield of 5%.

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chimak10
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Joined: 30/Aug/2007
Location: India
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Posted: 11/Sep/2009 at 5:01pm

Since you are my guru and i am your chela.........your wish is my command.

But do compare the other housing finance cos. dividend track record and compare with dewan......you will get what i am saying.

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smartcat
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Joined: 29/Mar/2007
Location: India
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Posts: 4243

Posted: 11/Sep/2009 at 5:04pm

Yessir! Will look at other HFCs. I already own GIC Hsg Fin.

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chimak10
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Joined: 30/Aug/2007
Location: India
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Posted: 11/Sep/2009 at 5:12pm

sukhanjee has given this excellent site for easy comparision of EPS and dividend

http://www.contentlinks.asiancerc.com/microsec/fundamental/fundareports.asp?companycode=14080006&companyname=Dewan+Housing+Finance+Corporation+Ltd%2E&ticker=DewanHsngFin&majorsector=1&industryname=Finance+%2D+Housing&bsecode=511072&nsecode=DEWANHOUSEQ&reporttype=Ratio

I have compared there data with BSE data and they are pretty good........the edwelsis site gave false data of GE shipping EPS so i stopped using it.

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