Gaynor said - The retailer's market value has increased from $232 million to just $337m in the past 25 years as it has struggled to make sustained progress in challenging Australasian retail market conditions.
Market value increased at 1.5% per year over those 25 years. When you were a canny old dog and bought at 270 two years ago the market value was less than $200m - quite a lot less than 23 years prior.
I don't know hw many zillions HLG have made in those 25 years but the accounts show they have only retained $23m of those earnings - the rest has been paid out in dividends (as yoy point out). And in that time I don't think they have gone cap in hand to shareholders asking for more cash (unlike some other companies)
Beagles, you'll disagree (probably vehemently) but you can get away from the fact that retail is hard and HLG is a real cyclical stock.One day in the future the HLG share price will be below $3 again ....and the divie won't be anywhere near as high as it today. Dollars to donuts that will happen.
But you being the canny 'investor' you are would have sold out over $5 (or maybe over $6) and be waiting for the $2.50 again eh.
Though some (like the Glassons etc) will just keep holding and collecting diviidends and not even worry about the share price -- knowing that one day the greater fool will come along and pay over the odds for company
Keep an eye on that squiggly line on the chart if the share price worries you - half cycles lull you into a false sense of security, its the full cycle that counts