Drew Meredith
speaker
386 appearances
1 recordings
1 series
first heard Jan 2023
last heard Jan 2023
Drew Meredith’s voice in public audio — every appearance, attributed to the second.
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Appearances
Banks historically have paid out anywhere from 70% to 90% of every year's profit in dividends, not leaving much to invest.
It's reflected in how they've struggled to grow over the last few years.
And then someone like CSL pays out less.
I think it's probably like 30% of profit in the form of dividends.
So living a lot more within the business.
Definitely.
Exactly.
Yeah.
So the reinvestment is just you deciding once you've received that dividend to go buy more shares automatically in that company.
And that plus the franking credit will always have to be in your tax return.
We prefer, we think investors should have the option and rather than constantly rebalancing, the risk of reinvesting in that individual stock is if one stock performs significantly better than another one, the size of that holding will keep increasing.
We prefer to have it in cash, rebalance it.
We review every portfolio or share every quarter and then rebalancing and deploying that cash each quarter.
Making a deliberate decision to buy rather than a forced decision to reinvest.
Generally, yeah.
And it probably would also be different, say, for a pension, an index fund that you're buying iShares or the S&P 500 and trying to ride the index for 20 years and grow your capital that way, then you're more likely to reinvest versus... Yeah.
Probably one-third, two-thirds.
So across the asset classes, Australian shares, we do directly.
Yep.
We think you can replicate parts of or slightly improve the income compared to the ASX if you do it directly and kind of offset some of the...
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