GeorgeNZ said : "So, if nothing has materially changed why the...

GeorgeNZ said : "So, if nothing has materially changed why the sudden suspension in the dividend?"

George,
It's the global credit freeze. If you had a business and generated 240M profit to distribute to shareholders but had the ability to reduce debt, wouldn't you suspend the dividend and pay down debt?
I agree they probably should have said a month earlier that it was on the cards that the dividend could be suspended. They didn't handle that well I admit and that caused a shock with a certain analyst. His SELL then started a snowball.
It was the prudent thing to do. I agree with the decision 100%.