I must admit to being somewhat disappointed with the annoucement. Based on WSA's previous annoucements I had calculated a $70 Mill profit. On this they delivered. However, management has previously advised an intention to distribute 50% of profits as dividends. In this regard I was expecting a divi in the range of 15 - 20 cents. Clearly on this result, 50% of the profit has not been paid out. No reason provided in the announcement as to why management has diverted from this policy.
Can anyone assist in this regard?
WSA Price at posting:
$6.52 Sentiment: Buy Disclosure: Held