Hmmm I see quite the opposite... a company that appears captive to it's largest shareholder, spending 10% of profits on hydrogen pipe dreams that deliver far less returns than either increased dividends or share buybacks, which will take years to deliver anything, and where obvious diversification opportunities haven't been taken.
Existing shareholders never got a vote on turning into a half hydrogen company from an iron ore cash machine that would more obviously just diversify into another deposit of some kind. I seriously doubt everyone would have voted in favour of it vs buybacks or higher dividends. I suspect many shareholders have been selling out because of it. So it's not that positive at all for me...
. iron ore profits that should come to me are instead funneled into pipe dreams that allow execs to enjoy global travel and give speeches.
I'm only holding because I think the price is undervalued Vs dividend yield ongoing despite all the green feel good nonsense. I'm sure I'm not the only one who feels this way.
(20min delay)