they made a loss on the half, and are paying the dividend out of the equity in the company. Investors contribute money into the equity of the company, the company gives it back from its shrinking pool of equity. There's nothing pretty with that.
At least no bonuses, and they've cut back on their salaries. For honesty's sake, in their position they should also return their bonuses from last year back to the company/shareholders, since it's clear that the bonuses were based on unrealised profit that this year mostly vanished.
$83k in brokerage fees for the half year? from $62mil worth of total buys and sells? on $18 mil of funds... probably works out to be about 3 trades per day. It also equates to a brokerage charge of 0.134% per trade.
For comparison, I do my trades on average at 0.08% brokerage inc. GST, but if I was 100% efficient, could cut that down to 0.06%.
WAA Price at posting:
$1.05 Sentiment: Hold Disclosure: Not Held
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