Cash flows aren't that great and are being used up fairly rapidly. -mgnt fee 2.2m -perf fee 2.45m -dividend 6.7m -interest 3.6m - the buyback chews up another 4.4m, although this is discretionary -other expenses 2.4m All on net revenue of 12m.
And that doesn't count that interest rates are going up (they were average 3.04% this FY but will more likely be 4-5% next FY on $125m of borrowings). They also cashed out their interest rate hedges to bring in 1.9m so they won't be available from now on.
Full disclosure, I sold out after being a holder for several years. Needed money for school fees so not entirely about D2O
D2O Price at posting:
$1.76 Sentiment: None Disclosure: Not Held
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