Well when they first started the dividends at the final of 2013 I was surprised it was 1c as i said they would get the same impact of 0.5c. Then when they paid and interim after the half year I could not understand it and in fact that moved my base expectations to 1.5c heading forward only for them to drop the final to 0.75c.
I am now hoping that they will balance interim and final this year at 0.75c each so if you look at it on a yearly basis 1c - 2013 1.25c 2014 and hopefully 1.5c 2015
I just wish the stock stopped listening to you TA guys and stopped trying to fill every gap.
I just think its taking a breather - in fact I am surprised the volume has not dried up. It makes me think there are many who don't believe but look like they dont want to take a loss so are waiting to at least break-even. We had quite a brisk run to 45c the last time but I think on higher volume - this time a lot have sold into the rise. Maybe not a lot in the scheme of things but far more than I would have thought on positive news flow.
PGC Price at posting:
42.0¢ Sentiment: None Disclosure: Held
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