I read the letter and was neutral until I saw the offhand way the destruction of share price was waved off as a trifling “short term” matter. I am disappointed that he fails to understand that the share price is an indicator of their performance.
1) A greater than 20 percent drop in SP over 12 months is not short term.
2) The nominal dividend yield now of 4.2% is only there because of that drop in SP. Otherwise it would be in the mid 3s. Less than bank interest rates.
3) The market and analysts in general have taken a dim view of EDVs performance and outlook.
Sorry, but the board and CEO need to appreciate they have failed the shareholders and to take ownership of their failings. The Chairman’s letter displays a remarkable insouciance.
I am voting for Mr. Wavish.
I read the letter and was neutral until I saw the offhand way...
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Last
$5.05 |
Change
-0.060(1.17%) |
Mkt cap ! $9.044B | |||
| Open | High | Low | Value | Volume |
| $5.12 | $5.14 | $5.04 | $19.61M | 3.864M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 55684 | $5.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.06 | 45050 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| EDV (ASX) Chart |