They stated in the last dividend (when MIG wasnt split as of yet) they wanted to bring the price more in line with the earnings. Now without all the MQA debt laden roads gone shouldnt the retained earnings be more as a lot since debt/interest payments have been reduced. Who knows, the directors havent said anything since the split. In my opinion the majority of earning should be paid out in distributions as debt is fairly under control and they have no intention of expanding their portfolio, so around 8 cents would be on par with my expectations.As for the s/p drop, I am baffled, toll roads with stable revenue and surely a much lower risk premium shouldnt be fluctuating like this.
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