It’s one of the top 20 shareholders selling-ANZ or HSBC is my guess- just as AMP did 5 yrs ago. They will need to lodge a change in substantial holder notice soonish. The selling in MCR isn’t going to last 12 mths IMO; also, someone else is obviously buying up the shares, otherwise we’d be at 25c now. Assuming the dividends are > halved to 5c pa, the yield at current SP is around 8.2%, which I’m happy with. This is a great buying opportunity IMO, just as it was in 2005.
MCR Price at posting:
61.0¢ Sentiment: Buy Disclosure: Held
