not so smart?, page-2

Jordan5. Could not have said it better myself.
I agree 100%. Dividend policy is a joke for this company.
I also agree the promise dividends will be reinstated next year can be taken with a grain of salt after today.
I don't mind the fact they are retaining all profits for growth opportunities. This is sound financial management.
But I do mind when they drop this bombshell on shareholders at the last minute with no warning.
The entire market expected a dividend especially considering their recent trading update announcing a reasonable profit. The market has been tricked.
I still like the companies outlook and will continue to hold, but management now has much less credibility in my view.
Hope I am wrong but this will be down 15% - 20% at open tomorrow.