re: dividend needs to be cut or suspended Whilst it is...

re: dividend needs to be cut or suspended Whilst it is possible/probable this years dividend may be cut, all dividends for previous years were fully covered by earnings.
SSB now forecast a 2006 eps of 9.6c, and dividend for the year of 7c.
Before getting too engrossed in all the hysteria about the falling s.p. it is worth remembering that the majority of the first half earnings downgrade one-offs, and that revenue from their services business is tracking about 20% ahead of last year. This compensates for declining hardware/software revenues, and area where substantial cost cutting (which will negatively impact the 1st half) is taking place.

Insofar as the one way share price movement, I still feel you can put this down to PPT quitting their holding. It is my observation that when PPT decide to quit a stock the sell order goes out and is executed with little regard to the sale price realised. Rather the only limit on the amount sold on any given day is what the broker can get out into the market.
I reckon PPT still have around 10mio left so the pressure will not be off VGL any time soon.