You shouldn't be paying dividends if your debt is ~$500m and market cap $840m. I am very happy to use all free cashflow to repay debt down to manageable levels, then pay more material dividends at that stage.
Unless guidance is bogus, which I doubt this is getting ridiculous. Consensus estimates imply a 4.0x PER in FY24. My bet is DDH shareholders (of which I was one) are selling because they invested in a dividend paying company with low debt, now we have a non-dividend paying company with high debt!
I am happy to play the more diverse, larger cap stock that gets included in the ASX200 at some stage and more on the radar for larger investors.
PRN Price at posting:
86.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)