Mr Boyes said Infratil’s profit for the period and financial circumstances could have allowed a special dividend, but as noted in the 31 March 2021 annual report, we do not view special dividends as the best use of funds.
We believe that shareholders would rather have a solid sustainably rising dividend than surprises, even pleasant ones, and while Infratil has over $1 billion of capital available for investment or return to shareholders, we are confident the majority of shareholders would rather we invest on their behalf, and we are confident we can productively deploy this capital.
AAAAAANND now they announce a share buy back??? IMO - a special dividend is in the same boat as a share buy back... they both use up retained earnings - personally I would rather them continue to invest the capital and pay a stable dividend. SP has been in the right direction all by itself since May?
IFT Price at posting:
$7.92 Sentiment: Buy Disclosure: Held
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