With a 10 cent dividend this half and expecting 6 to 7 million in losses next half they actually couldn't afford to give a bigger dividend than they did. They are expecting 3 to 4 million in NPAT for the full year which is about 10 to 14 EPS. Most wise companies don't give out more in dividends than they make in earnings and profits. I was expecting a 15 to 20 c dividend as well but I didn't expect the large drops in NPAT and the forecast losses to drop the dividend by that much.
The question is going to be tomorrow if this becomes the 1 dollar shop, the 2 dollar shop or the 3 dollar shop again. I'm expecting a drop to low 2's in the short term. I can't see buyers taking the risk for now. Now that Allensford has a big piece of the pie I expect board/management/company/strategy changes to be announced before this moves North again.
Allensford has soaked up over 1 million shares today by the looks of it. That's another 3 to 4 percent of the company gained just today.
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