AFJ
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0.00% 91.5¢ affinity education group limited

$11m transaction costs, page-9

  1. nih123
    619 Posts.
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    24/04/14
    11:04
    Post #: 13281393
    gem borrows money to pay its dividend by issuing convertible notes. nowhere does its free cash flow justify paying a dividend. this is because of the capex from all those acquisitions. so GEM's dividend is misleading and not coming from sustainable cash flow yet.

    AFJ Price at posting: $1.28 Sentiment: None Disclosure: Not Held
    Likes Created with Sketch. 1  Upvote
    lightbulb Created with Sketch.  Great analysis
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