Normally with a company it is always a bit of a two way bet as to what is the best move to make, reduce debt or pay out profits as dividends to keep shareholders happy but as far as PRT is concerned their debt interest repayments are more than manageable. Hell, 90% of the companies listed on the ASX would give their right arm to have some of the ratios PRT has!
I would also be disappointed to see the payout ratio reduced further and even if the lower end of guidance for this half is met ie $15.3M, that still equates to an EPS of just over 4 cents. I can't see any reason why this can't be split between reducing debt and still paying out 2 cents minimum as a mid year dividend. A half year at 6% also goes a long way to showing just how low the share price has become.
It will also be interesting to see how profitable the Australian Open was for Prime. I've visited a number of friends around Australia the last couple of weeks while on holidays and they were all tuned into the tennis - got to love those anti-siphoning laws.
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