I didn't mean they would, Myer has ample franking credits to return to shareholder by dividends which is better than buyback. I just wanted to point out acquisition would not be optimal use of capital while its own shares were undervalued.
I don't know where you got the "note that the board has speculated on capital raising just to dilute his holding". Myer had 821,278,815 shares on issue in 2016, it had not issued a single share over the past 6 years, I just couldn't believe the board would even think of capital raising when net cash on balance sheet accounts for about half of market cap. Would you mind to provide a link where you got the note?
MYR Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
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