Cutting the div from 2.4 to 1.2 cents gives CWT an annual return...

Cutting the div from 2.4 to 1.2 cents gives CWT an annual return of 4.8 cents per share. Will probably have to pay tax on this but even so should make a significant improvement to their financial position and NTA per share.

The div payout ratio has been reduced to just under 50% and NTA will increase by about 7M$.

I dont generally like to see divs reduced but in this case I am in complete agreement.

Neil
PS I only think those figures are correct