This is the announcement we have been waiting for, surely the sp should now recover after the sharp decline in last few weeks.
Just the annual interest savings of $300m is significant in itself, this will allow a 10.0cent dividend to be paid with this cost saving alone.
I think that FMG will announce 10.0cent dividend for the first half and a further 10.0 cent dividend for the second half.
I will be seriously disappointed if the market does not react positively, we should also receive news from the ratings agencies that the risk rating of FMG will be again upgraded to a better investment grade profile. The institutions surely will now take a close look at FMG
FMG Price at posting:
$5.15 Sentiment: Hold Disclosure: Held
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