This morning I added shares in PGG Wrightson (NZX: PGW) to the portfolio. PGW is one of New Zealand's leading suppliers of products to the rural economy. Given the increasing demand for agricultural and dairy products, the company should have reasonably secure long term prospects. The negative is the gearing ration which, at around 50% debt to equity (slightly unclear due to a recent acquisition of some real estate) is a bit higher than I am genuinely comfortable with. The trailing yield is 7.3%.
I paid NZD0.41 per share.