I like dividends very much, but I don't want a company in Santos position to pay me one...
1. They're going through a very significant down cycle
2. They're assets aren't very good in my opinion (aside from PNGLNG).
3. They have too much debt
4. They'll be lucky to break even on an underlying basis this half year
5. Finally, some tiny 5c/share dividend is so small its useless for shareholders, but the combined amount is actually useful for the company.
I'm just waiting till oil gets into the $60's again (which I think is likely) and i'll be selling out.
STO Price at posting:
$4.94 Sentiment: Hold Disclosure: Held
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