If you were only allowed to buy one share on the NZX

[Basil]

You've missed the point completely LEK.  The average capital gain has been 14% per annum for the last 10 years.  Additional to the capital gains the dividend yield started at 15% gross 10 years ago.  Its much higher today.   Add the two together and you get total shareholder return.  HLG don't have analysts who need to trumpet their TSR to shareholders to justify their egregiously high management fees like Morrison's need to do. Sorry, I can't make it any more simple than that.

Ask A.I. yourself, try and dumb it down so A.I. can calculate it for you.  If I bought a share for $2.70 10 years ago that's now worth $10 and along the way it paid 41.8 cps in dividends every year, (dividends varied each year but I tried to dumb it down for A.I.), what would my annual TSR be ?
A.I. can't seem to perform the task, I have tried asking it twice.  It consistently adds the capital gain of $7.30 to the dividends received of $4.18 and assumes the total return inclusive of all dividends is earned at the end of the 10 year term, (obviously with dividends paid throughout the term the actual return is much higher as the dividends can be reinvested). 

A huge part of HLG's performance has always been its dividends so with A.I. incorrectly calculating the CAGR I would need to spend a considerable amount of time running the actual calculations myself....but none of you naysayers would believe me so there seems no point in bothering.
FWIW which is very little, A.I. gives an annual TSR of 18.04% per year using its fundamentally flawed calculation methodology.