why mts price did not follow 2 bad ratings?, page-14

The dividend level may be temporary/declining and is only about +1% more than the major banks right now. The argument that holders are being compensated for business risk by the higher dividend don't necessarily stack up.

Earnings/cash flow are under threat - the ACCC is constantly reviewing WOW and WES purchases of Supa IGAs therefore MTS' smaller market presence is being further reduced. WOW and WES are clearly squeezing out the independent grocers to the full extent of the law and whatever the ACCC will allow them to do, like their use of fuel discounts. Plus MTS is its own enemy trying to charge yuppy convenience prices that its customers simply won't pay. You'd certainly have to have spare cash rattling around your wallet to afford to shop at these stores. Some of their 'specials' I have seen are the same stock items already selling cheaper at full price! at WOW and WES.

The business is in structural/competitive decline, it's fair to say, against the majors. It has lost its narrow moat.

Why expose yourself to probable capital loss? Isn't it simpler to buy the major banks or TLS to pick up nearly as high a dividend and better CG?

MTS' share price has gone nowhere over the last five years so that is not a good endorsement. Fat Bloater has labelled MTS a lemon ex-Blue chip, or never-Bluechip, and this is a reasonable conclusion to draw.

The share goes ex-Dividend soon so some of its current support may evaporate after that date. The share looks overvalued at $3.00 so not a lot of fat by the look of it for possible buyers.