re: Ann: QBE announces major terms of share p... razorback,
I can understand your point. But at the moment gearing is now down to 27% after the hybrid byback, they stopped the DRP about 18 months ago (obviously didn't need our money) and by offering even more shares thru this SPP would dilute the existing EPS.
They currently have a prudential margin of 2.4x, pay 55-60% in dividend and throw the rest in the bottom drawer of Franks desk.
I still think they are scouring the planet looking for bargains and with a large insitutitional shareholder base 80% (one of the highest in the ASX20), won't find it too much of a problem raising cash, and we all know the insto's have cash.
P
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