Excellent post.
For a company that burns capital the dividend cut is a disgrace. This fact appears to be lost to those dumb wits who have been arguing for a dividend cut.
If a company is not growing then it should be distributing 100% of profits in dividends.
The moron has compared Telstra to Amazon to justify the dividend cut. Memo moron: have a look at Amazon growth compared to Telstra. With companies like Amazon and CSL you tell the Directors to re-invest as much as they like.
With companies like Telstra it is the height of stupidity to let them keep any retained earnings.
Pear
Where to now for long term investors of Telstra, page-163
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