….sadly after holding for about 10 years I sold out of SWM (at 42 cents a while back) simply due to the lack of dividends which would have benefited every shareholder equally. My belief is that the shareholders with the higher percentage of share always benefit more than those holding smaller parcels of shares.
As too, when the ‘donut factory’ was surprised by the lack of information about their expectations of dividends that would have sent a concern to future investors. No incentive to hold these shares. As you can see the share price has only gone South since.
It is plan as day that up to this point the buyback has not achieved what was expected to halt the decline. Eventually I believe it may in the end help improve the share price but I believe that will be when dividends are reinstated although from a percentage point much lower than they had started before buyback. (share price was much higher than now)
Even on a decline of the share price, the real winners were those buying at the below 10 cents opportunity that was available 2 years ago? But certainly not long term holders.
One other thing I would like to say is that it was going around the traps how much KS liked his dividend streams. But apparently not this time. I also too believe that in a down market dividends generally helps stabilise a share price.
Will be interesting to see the next financials particularly in the current market.
Anyway these are just my views.
Good luck to all holders. Patience required.
cheers
SWM Price at posting:
36.5¢ Sentiment: None Disclosure: Not Held
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