It was not that long ago that a dividend was delayed as they did not have the cash to pay it and the bank would not lend it to them. These blokes need to be told to look after their shareholders, stop the sell off of equity and live within their means. I will wait and see if the new board members start to reign in the excesses of Frank Wilson. It aparently got too hot in the kitchen for him when he was a tax dodging lawyer but I guess he has saved shareholders from the dreaded capital gains tax! Debt is bad news for investors in 2011. My view for what its worth is send Frank Wilson packing and get someone who will build shareholder wealth instead of selling it off
TFC Price at posting:
73.0¢ Sentiment: Hold Disclosure: Held
