LOL...yeh I've noticed they are lining up to buy W69. Bung should be a person of their word and "bung" up the hole which appears to be bottomless unfortunately. Probably due to David having his arse being bitten down to the bone.
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Make that a 3% yield for me:eek2:
Just saying i called it too :) if i remember correctly. 78c yields the same return as 1.70 before the dividend cut (according to my spreadsheet) called it on the 26th. Im a little more worried about their debt though and capacity to actually pay their dividends. Time will tell
I'm tempted to jump in now, however interested to see the result to see what hit the profit so much.
if they get debt under control I could see a nice scenario playing out where by they limit divvies for a while then return to their past level of dividends, there'd be a nice price hike and holders at these prices would be sitting on massive gains. Could get worse though, definitely can't rule that out ;)
"Dividend Reinvestment Plan remains suspended so will not be in operation for
the interim dividend. "
Hard to understand why it is still suspended when right now it would be very helpful!
Oh dear - revenues slightly (2.3%) down, Operating cost less moderately up (by 4,9%) as well as administrative overhead (up 4.8%). Some of it probably golden hand shakes for recruitment mistakes and apparently a utility bill nobody expected. Result: misery.
Didn't find any impairment for David's impaired butt - where would we look for that?
So I guess its now us hoping that they may be able to get the ship floating again, though somebody mentioned before that hope is no strategy ...
Balance sheet no pretty sight either. Debt ratio (Liabilities to total assets) increased from 64.5% (in Jun 14) to 78.8%. I guess its o.k. if they want to compete with CNU (at 80.1% last time I checked), but do they really need to compete for the position of the most indebted Telecom company? Scarry, not sure, whether declaring a dividend is the best idea the board had so far ... though maybe there is a pattern: Buy Farmside, Hire incompetent managers, fire them and pay them a golden handshake, pay dividend ....