Thanks for the article Michael. But this is yet another piece of evidence that many (most) OZ journalists writing on financial matters are pitifully below global journalistic skills.
Consider the following: "an investor knows that $9.60 will be getting an (admittedly, taxable) distribution of close to 90c a year, and rising relentlessly."
Did you catch the errors here?
1. TCL distributes 44.5 cents per year. The journalist either can't read or can't count.
2. "Admittedly taxable" is more false than true in the short run (which the journalist likely intended since he referred to one year of distributions). Actually, shareholders pay tax on probably less than half of the distribution in the immediate year. More than half of the distribution will likely be tax deferred capital gains.
TCL Price at posting:
$10.32 Sentiment: None Disclosure: Held
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