Yes, the reinstatement of a divi even 1/2 cent would restore confidence in Grange. The dropping of the divi was an extremely poor management decision as a 1/2 divi would've been covered by the interest on the $140 million bank balance.
As a result of this foolish decision many investors are now looking at RIO, BHP or the big 4 banks etc to invest their money.
I've been buying RIO at $44 recently and its the divi that makes it compelling.
Grange management seem to have lost the plot, and little initiative to grow the company. With $140 million cash in the bank they should've been building the business with cheap acquisitions. Sitting on Southdown is OK for the moment, but GRR management seem incapable of moving the company forward.
IO hits $60 ..Again and Again ., page-32
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31.0¢ |
Change
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Mkt cap ! $358.7M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 32.3¢ | 31.0¢ | $465.1K | 1.472M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 131681 | 31.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.0¢ | 28097 | 3 |
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| GRR (ASX) Chart |