There is a bit of similarity with Speedcast, huge write-off and cancelled dividends. Price dropped 55% since reporting a few days ago. Australian investors love dividends, cancelling dividends is the worst signal management can give shareholders, not much different to committing suicide. The banks know and even if they have to sell their underwear, they will maintain the dividends. You can cut it, like Telstra but cancelling it is simply stupid.
Ann: Appendix 4E - Preliminary Final Report, page-26
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