Personally I sold out in the seventies. The half year accounts showed operating cash flows -$1 million, investing cash flows -$1 million and dividends -$13.5 million. Net borrowing of $20 million was the reason cash held rose. Thus the dividend was paid by borrowing. I still hold VLW, but I am happy to be out of AVJ. Still good luck to those remaining.
AVJ Price at posting:
69.5¢ Sentiment: Sell Disclosure: Held
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