FMG Dividend Poll, page-39

frankycc
Thats the point - my discussions with FMG were extensive around why the stock is a plaything for the short sellers.
The advice I got was-
Australian Institutional Investors were not on the FMG register because of their short term horizons and the uncertainty surrounding iron ore prices-they only ever went short- because they didn't want to get caught at the end of a quarter reporting a loss for a dip in the iron ore price.

The significant institutional investors on the FMG register were almost wholly American or British in origin like Capital Group.

FMG senior management had come to the view that its shareprice was going to be a series of "groundhog days" unless they changed the reason for investing in the stock.

In their view the only way to make that happen was to keep increasing the dividend until the yield became so compelling it kept lifting the share price which would also create stability in the longer term institutional investment.

Hence I think you are wrong.