Understand the franking credits is an issue if held in a super fund.
IMO, most of the bad news is currently priced in with the 2nd half of F13 looking better and F14 eps forecast sitting around $1.10.
I view the current price as an opportunity to average down. Also noticed in the afternoon trade some big orders pop into the buy side around $10 which looks like providing good support. Would like a couple of up days prior to going ex div to prevent a slip below $10, but will see...
UGL Price at posting:
$10.06 Sentiment: Buy Disclosure: Held