A few quotes from the announcement you may have missed USD Senior Note facility that moved to $144m from $141m in the quarter following strength in the USD over the period.
Wow the debt has gone up as the $A drops
As a result, TFS expects that its Operating Cash Flow position for the year to 30 June 2012 will be less than the prior year, although this should improve significantly in the following year. Does this mean no dividend as any money received goes to wall street bankers. Remember the now US $144 million debt is secured by all the assets of TFS and with the $A falling the TFS debt will soar TFS has been deceptive in their announcements in the past and I can see no reason to get excited about this announcement given the current global environment. My bet is if they pay a dividend this year the share price will fall further than the amount paid. This is what has occurred in the past and shareholders would have been better off putting their money in the bank.
TFC Price at posting:
42.5¢ Sentiment: Sell Disclosure: Not Held
