Poor management and board for mine. Amateurs for mine
I understand that they do not have any control on economic environment , however the slowdown was clear since the peak of the housing market more than 12 months ago. As such , management should have been planning for a financial hit and reducing the last two dividends to allow for a similar dividend to be able to be paid out for period ending June 30th 2019.
The current guidance of NO interim dividend is a SHOCKER , hurts and surprised though investors who are counting on a consistent franked dividend for starters.
The share price will be drifting as those shareholders disappointed by the dividend guidance surprise. I hope there is NO silly business and any performance benefits paid to management based on improvement of the new/coming lower prices. Then a CLASS action could be in order.
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