>> The dividend of CCL has grown over the last 10 years1....

>> The dividend of CCL has grown over the last 10 years

1. Dividend for '13 was 58.5. Dividend for '12 was 59.5. Even though the CCL 2013 financial results refers to this as 'unchanged', it is clear dividend to our pockets has decreased.
2. From 2012 and earlier, dividends were fully franked. The last 3 payouts were franked between 67 and 75%. This means that even if the div. per share payout was the same, actual dividend would have been reduced.

>> its P/E is about 16, lower than that of Wow or wesfarmer.

I am not a fundamental trader/speculator. Could someone explain to me why we compare the P/E of CCL (drink manufacturer and distributor) with Woolies and Wesfarmers (supermarkets, retailers, etc.) ?

If I was inclined to care about this sort of thing, wouldn't it be better to compare CCL's P/E (16.60 according to my trading platform) with 'Sector' (15.59 according to the same platform) ?


My view is that all the fantastic things you mention: brand value, diversification, valuable coy, leader, supported by parent coy, innovation in marketing, portfolio mix, leading beverage coy and so on, are factored in to the price right now. It is an $11.01 stock no more no less.

I bought CCL speculating that it would increase in price and as a current holder I sincerely hope it does so.
However every now and then I need to put on my big boy pants and acknowledge I've made a mistake, I've got it wrong, I've backed a loser. 3 more trading days like today and I'll be shorted out and I will move on to new opportunities. Pic related. g.