Australia's largest stock trading and investment forum Australia's #1 stock forum

GNC

Click for more information

0.81%

$8.61 graincorp limited

yep, I'd bought more after it went ex div at around these levels...

First 8 Last

Share
Profile

Follow
stayer

10,303 Posts.

215

14/02/24

12:50

Post #: 72401275
Share

Originally posted by fourdollars ↑

The more I think about it the more upset I am about the UMG situation. $127m received in November. That's 56cps. GNC will point to the "net of tax" amount being $104m (46cps) but that's misleading. Thanks to the imputation credit system, the tax paid by GNC is on behalf of shareholders who would received that tax back should a franked dividend be paid. In the hands of a shareholder with super in pension mode, the full 56c of benefit would be received.

The oilseed crush expansion and the "transformation of internal systems" project would both have been budgeted well in advance of management knowing that GNC was to have its UMG stake purchased, so it can't have earmarked this money for capex.

They should pay the full amount of the UMG proceeds to shareholders for two reasons:

1. Its more valuable in the hands of shareholders as franking credits get released.

2. Keeping it in the company lends itself to having it disappear in capex overruns and executive remuneration.

56cps and it doesn't even rate a mention at the AGM or in FY24 projections .... ridiculous.

Expand

yep, I'd bought more after it went ex div at around these levels hoping for a special divvy...sold some 8.50, unfortunately only some, unloaded today the rest

GNC Price at posting: $7.17 Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

AUG

Augustus sees imperial share rise on high-grade Cu and gold results at Ti-Tree

TLX

Telix jumps 11.6% as US government indicates proposed medicare changes won't affect prostate cancer drug

RNU

Renascor wins a funding boost given it wants to produce a critical mineral – but $5M award pales in comparison to some

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

TX3

Canadian fieldwork yields multiple pegmatites for Trinex

There are more pages in this discussion • 7 more messages in this thread...

First 8 Last

Add GNC (ASX) to my watchlist

(20min delay)
Last $8.61		Change -0.070(0.81%)		Mkt cap ! $1.953B

Open	High	Low	Value	Volume
$8.75	$8.79	$8.61	$3.147M	363.1K

Buyers (Bids)

No.	Vol.	Price($)
8	6469	$8.60

Sellers (Offers)

Price($)	Vol.	No.
$8.62	1986	2

View Market Depth

No.	Vol.	Price($)
2	587	9.120
6	13227	9.050
17	21868	9.040
1	6293	8.890
4	15403	8.870

Price($)	Vol.	No.
7.750	25166	2
8.110	41798	7
8.170	1861	2
8.180	3696	4
8.200	6507	1

Last trade - 16.10pm 11/07/2024 (20 minute delay)

GNC (ASX) Chart