No dividend decision yet, in my opinion it must be because ABY wants to make sure CU does not dip too much. As the cost of production is so high, they do not want to pay dividend and then end up in what happend in 2008-09.
To brief you, in 2008 / 09 they declared dividend of 10cents. Then GFC took its toll on the CU prices. Initially invoiced amounts were close to $4/4.5 per LB by the time it reached Hindalco's port, the prices were $1/3/1.5. Then ABY have to account for this price difference. Ended up in cash deficit of close to 100mn on this account.
Now it is not GFC but a "potential" EURO brk up.
So in my opinion they do not want to do the same mistake they did before GFC.
We will see some dividend announcement before the month end hopefully CU prices stabilise by then.
aby up 5.4% and selling subsided, page-11
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Last
$1.00 |
Change
-0.020(1.96%) |
Mkt cap ! $93.95M | |||
| Open | High | Low | Value | Volume |
| $1.02 | $1.03 | $1.00 | $28.13K | 27.72K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4293 | $1.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.05 | 15000 | 1 |
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| Last trade - 16.10pm 04/11/2024 (20 minute delay) ? |
| ABY (ASX) Chart |