MGX share price, page-15

The big worry for MGX is what management is going to do with the cash - they paid 30 million in tax last year so could have paid a fully franked dividend of 10 cents or paid out 100 million in cash. Before tax that would have been worth 14.5 cents.

With $520 million in the bank why didn't they? I can't answer that but I think from a shareholders point of view it is very disappointing to leave franking credits unused if they have surplus cash.

Furthermore there's no major capex on the horizon - so it can only lead one to speculate that they intend to buy something - lets hope it represents value to investors.