True believer, page-5

TDL is probably correct that BSA are in a better position to resume dividends than for they have been for quite while.
Their problem is their diaphanous margins on the circa half billion dollars worth of work they do, and "legacy issues".
I am not sure if the latter term might be just be the latest business euphemism for "Screw ups because we priced the job too low". In which case, it would be better if they wrote an item for that eventuality into the budget for each job right from the start. Just a thought!!!

Here is what they said about dividends in last year's report (28/8/2015)
"While the Board resolved not to pay a final dividend for FY15, we anticipate reviewing the matter on an ongoing basis as the business returns to a more consistent earnings profile."

And in the investor briefing "outlook" of 29/2/2016, they say,
“Intention to return to dividends as earnings progress to a consistent profile and legacy issues are resolved”

A skeptical observer might think that it always seems to be “munyana”, or more accurately, “el próximo año”.
Don't get me wrong, I hold a fair swag of BSA shares. I am just venting some disappointed at the slow progress.

Regardless of my disappointment, there seems to have been fairly solid buying support at $0.17 and $0.175 since the HY results, likely by people who know more about it than I do.
And the buyer(s) was back into it nuts, guts and feathers again today. See below
Cheers.

	Column 1	Column 2	Column 3	Column 4	Column 5
0	Time	Price ($)	Volume	Value ($)	Condition
1	3:58:16 PM	0.18	30,000	5,400.00
2	1:40:18 PM	0.185	412	76.22
3	1:40:18 PM	0.18	5,588	1,005.84	XT
4	1:33:29 PM	0.18	3,500	630
5	12:17:21 PM	0.18	30,912	5,564.16
6	11:13:24 AM	0.18	69,088	12,435.84
7	10:17:38 AM	0.18	130,912	23,564.16
8	10:17:38 AM	0.18	4,200	756
9	10:17:38 AM	0.18	30,000	5,400.00
10	10:17:38 AM	0.18	191	34.38