As an investor, its tough to be married to a stock like Kar En....

As an investor, its tough to be married to a stock like Kar En. Perhaps the name was a clue.

There never seems to be any good news.

Kar En has outstanding liquidity and cashflow.




Anyone give a chance to a surprise special dividend being announced on 28Aug24, in addition to the half yearly declared dividend?

I'd expect the half year dividend to be similar in total to the A$37.5m share buyback, so 5cps. Available franking credits should see it as fully franked too.

Our cashflow must be similar to the TY23 results. While Bauna production has fallen, Who Dat did not affect TY23.




So I expect cashflow of over A$450m (US$300m) for H1FY24. At 28Aug24, we should have banked cashflow of US$100m since 30Jun24 and therefore be cash/debt positive.

We're due for some good news for once ... and I'm sure the Kar En BOD is looking for some love ... after the BOD assault driven by SC and STAM.

After 20 years of shareholder nightmare, could we really get the 50cps dividend that SC demanded should have been paid before the Who Dat acquisition?

No. We can dream though.

A special dividend of an additional 5c would be sweet. More would be better. We have the liquidity and Neon FID still a year away. Some Who Dat CapEx in the meantime.