I would be very surprised to see a dividend payment. Seems to me the reason they can't get more funding is their size. They've borrowed 6 times their equity (as of the half year report) as it is. Do banks lend at higher ratios to small businesses? Certainly not in the current environment.
They can grow by retaining all their earnings or they can do a capital raising. Seeing as they did the latter only 2 or 3 years ago, they might not have the drawing power to go back again. Also, with the price hovering where it is for so long, they'd have to do it a price lower than the previous issue, which wouldn't go down well.
I'd gladly be set straight on my views here by the better informed, but its a lonely old thread, about a lonely old stock.
Who's listening?
FSA Price at posting:
26.5¢ Sentiment: Hold Disclosure: Held
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