FWIW this business is in a capital intensive industry, competitive, structural headwinds for parts of it, and make acquisitions.
Given these characteristics I don't understand why they maintain a high dividend payout ratio.
IMO this is a recipe for longer term value destruction - all will be fine until aspects of the cycle turn against them and they will be forced to raise capital to lower debt at a much lower share price.
All speculation and my opinion, and might not happen for years. However I can't see any other long term outcome unless they change strategy.
'tis the Season, page-9
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Last
$1.87 |
Change
-0.025(1.32%) |
Mkt cap ! $287.1M | |||
| Open | High | Low | Value | Volume |
| $1.90 | $1.90 | $1.85 | $496.2K | 264.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1 | $1.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.88 | 411 | 1 |
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| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$1.86 |
Change
-0.025 ( 2.37 %) |
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| Open | High | Low | Volume | ||
| $1.89 | $1.89 | $1.85 | 21514 | ||
| Last updated 15.58pm 14/06/2024 ? | |||||
| IGL (ASX) Chart |