The drop in dividend to just 1c has caused the current rush to sell.
They needed the money to repay loans to the banks.
Vineyard valuations are falling and that would have broken some loan covenants.
The wine industry has a long way to go to resolve its issues.
CWT may well have been better off to raise some capital whilst its price was higher.
With the prospect of low or no dividends for a while, the price could readily go down to 12c in my opinion. Some lousy days ahead for CWT.
The drop in dividend to just 1c has caused the current rush to...
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