"Good points and while Kitchens and Beds seem to be rolling...

"Good points and while Kitchens and Beds seem to be rolling along nicely it still looks like it will be tough to maintain the current dividend. Even if we allow for a reasonable turn around in Lloyds in the H2 then JYC will struggle to deliver FY EPS of 10 cents, which would make it hard to pay last years 10 cent full year dividend. What are you thoughts ?"

From memory, they have Retained Earnings of around 18cps, out of which they can pay dividends if they really feel a burning need to maintain them at 10c.

Personally, I am agnostic as to whether the surplus capital of the business comes back to me in the form of dividends, or the company's management retains it to grow the business on my behalf, on the assumption that they can do so in a manner that maintains the Return on Equity Holder Funds at least at the historical rate, which is in the high teens.