MGX have been withholding divvies since Oct 2014, even though they were a profitable company throughout, so its a bit churlish to suggest anything is better than nothing, irrespective of their SP.
Having said that, they were wise to withhold profits over a very unstable part of the commodities cycle.
I have consistently said that, if MGX can't find something to invest in, they should hand the cash back to the shareholders - first by a special divvy, to use up franking credits, then by a capital return. Instead they have doled out a "respectable" divvy, but given no indication of what they're doing with our money. I say "respectable" because that 2c equates to an annualised DY of about 12% (with franking) but represents only less than 4% annualised over the divvy desert from 2014.
MGX Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held
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MGX have been withholding divvies since Oct 2014, even though they were a profitable company throughout, so its a bit churlish to suggest anything is better than nothing, irrespective of their SP.
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