I must say I thought it would be harder to find Peter Cook's comments on dividends, but then I realized Biota haven't made that many announcements this year.
"On the matter of dividends, the point I’d make is that the nature of our work requires reasonably long time lines. We’ve demonstrated we can deliver value over time, for example Relenza, MedImmune, BI – all long-term! Shareholders are investing in a company with long-term promise in its product pipeline. Therefore, I’d think those shareholders would be happy to see our resources used to maximise the long-term value of our portfolio."
I'm a little confused as to when they demonstrated the ability to deliver value. Over twenty years and still no return on the investment. If that isn't already long term enough to wait for a return I dread to think what Peter has in mind. Perhaps in another twenty years?
BTA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
