Ann: Share Purchase Plan Booklet, page-2

I just found out about this from an article in the Australian.

So IVC did a capital raise at $14 per share in early 2019 and then another capital raise this year at $10.40.

it seems to me that invocare has been paying out too much of its profits as dividends (to higher a dividend payout ratio) and not retaining a sufficient proportion as retained capital to maintain and update their funeral assets and to grow by acquisition.


Two share placements in two years.