Every year SNL declares at he final dividend prior to the announcement of the full set of audited financial accounts, so there is nothing new or significant in them doing so today.
But what is significant, I think, is that the usual 70% final dividend payout ratio means that the company isn''t building any sort of cash war chest to purchase MXI, which is becoming a mini-SNL.
(Of course, any such bid might take the form of scrip, given SNL's significant valuation premium to MXI, but even that would surprise me, because I don't think the SNL board is of anything other than a firm "growth-by-organic-means" mindset.)
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SNL Price at posting:
$7.39 Sentiment: None Disclosure: Held
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