Having attended the AGM I think they were hoping that they may have been able to announce the purchase of a share in a new business, but timing beat them. Perhaps we will hear in the next month or so. So interim dividend is probably only a 50: 50 chance. Reading between the lines, it looks like it will be another off-shore business, pushing the overseas contribution to earnings from the current 20-30% to more like 50-60%. Hence franking credits will become a scarce commodity.
Providing the market starts to value the company closer to its NTA, the future for those wanting a regular income might need to be selling say 5% pa of an increasing share price. But then, I always was a bit too optimistic.
Cheers Westwind
Having attended the AGM I think they were hoping that they may...
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