Cryosite dividend drought to end?

Will Cryosite resume paying dividends? We'll know next month.

The last time the Sydney-based cold-chain logistics group paid a dividend was in March 2017. The rate was half a cent a share. The payout totalled $235k.

The half yearly results back then included turnover of $5.1m, net profit of $253k and cash of $4.1m.

On February 25 this year, CTE reported half yearly turnover of $4.95m, net profit of $285k and cash of $4.3m.

Directors would have considered declaring a dividend. They didn't.

Instead, they launched a share buy-back scheme. Soon after, they called it off without buying a single share.

And since then director Andrew Kroger has resumed hoovering stock.

He's outlaid more than $500k on building his equity to 43%.

Of course, Andrew Kroger would know now whether the group will declare a dividend at the end of August. Others can only speculate.

I'll take a punt. Assuming Cryosite scores an improved second half result - as forecast - I declare now that Cryosite will next month declare a dividend...albeit a modest half a cent.