IMO, 20c and under may be cheapish too although the placement is a concern as it aludes too the old story of assuming growth via an acquisition trail through debt via their ANZ debt facility. It's the old story of running too quickly on assumed bullish projections regarding their cash flow. When the economy turns, as all who follow this model, they suffer...a bit like DES in some way.
Regarding their "intention" to have a dividend, IMO, this was only a conception of wishful thinking. Many of us become confused here in the wording and phrasing of announcements. A MOU is not a contract and an agreement does not have to be enforceable. A conceptual target, and intention, an expectation is not binding.
In comparison, the CDU folk have been explicity told that JORC will come - no bones about it - for some time, but never does. They can complain, but shareholders of CQU cannot IMO as the Board strived for a dividend to become possible, but failed - it was never promised. They didn't have the money.
Add to My Watchlist
What is My Watchlist?