Management have no control over the shareprice. There could be any number of reasons it raises or falls and for management to be concerned about it or making comments about it is a waste of time. Their time is better spent running the company, the share price will take care of itself in the long run. As for cutting the dividend its a smart decision in my opinion. Last year they had Jobkeeper to rely on during lockdowns. The current lockdowns will be more detrimental to physical store sales then the ones during last year so they are keeping more cash on had as a "just in case". If things turn out to be not so bad they we may get an increase to the interim div early next year like we did in March this year. Management have proven themselves to be very capable at capital allocation. Not to mention they are the largest shareholders so they are also taking a hit with reduced dividends. Good buying opportunity in my opinion.
AX1 Price at posting:
$2.24 Sentiment: Buy Disclosure: Held
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