They have just used the cash to pay off debt and refinanced the debt. The new interest cost is 21m AUD which is around 15m USD.
If you think their debt was 128m from previous presentation - this means debt interest at around 12% - much better terms than they had before I think.
We knew this would be sh!t sambo when they were cleaning the pantry.
I would have preferred a bit of dividend to keep the income coming but not to be - might have to rethink my portfolio allocation a bit here
@SaberX Not sure why you keep taking potshots. UNV was always going to be a solid performer in bad times. In good times it would look like a drag when BU will be raking it in especially now with their low costs (hopefully).
What I find most concerning is the loss of Tony Weber from the management team - seems like he has left ?
Ann: FY20 Results Summary, page-18
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