As I have explained previously, the problem is that their dividend, tax and capex payments over the second half are going to exceed their net operating cash flows by up to $30m. Therefore, they will not be able to fund the sort of dividend payments you are all expecting.
I just check the Goldman Sachs report and they are estimating a total year dividend of 22.1c. Given they have already paid out a 21c interim dividend, this equates to a 1.1c final.
The Goldman analysis also has a price target of $5.34 assuming a recovery in the almond price but so far no signs of that happening.
I think this will go under $4 and possibly lower depending on how far their debt blows out.
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$4.19 |
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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2 | 903 | 4.140 |
2 | 845 | 4.130 |
1 | 121 | 4.120 |
1 | 121 | 4.110 |
Price($) | Vol. | No. |
---|---|---|
4.200 | 1668 | 2 |
4.210 | 782 | 1 |
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