Not everybody pays tax on dividends. SMSFs who are very large investors don't pay tax when members are in pension stage, those in accumulation stage only pay 15%.
No dividend this next financial reporting season and my two SMSFs will definitely be dumping MGX and invest in shares like AMC that pay 5% dividends consistently.
MGX needs to pay 2c/share to make the share worth holding.
There will be no capital gain in MGX if management fail to pay dividends, GRR is a better bet overall, the Chinese are definitely better at managing companies. It seems Aussie management only care at feeding themselves from the trough.
MGX Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
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