debt keeps going up and no dividend... another few nails in the coffin.
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debt keeps going up and no dividend... another few nails in the coffin.
A profit downgrade announced this morning won’t help will it
Aussie stuffing them up big time, worse than they were letting on.
Now it's not even a 'dividend yield' stock. The warnings have been here for a long time. GLH.
Well at least greedy know all instos/fund managers getting their comeuppance by ‘demanding’ they go the acquisition route in Australia to achieve growth.
But that’s the capital markets for you
OMG - I thought you are kidding, but yes - NZ flat and Australia in loss territory. Does not look flash considering the headwinds didn't really start to blow ...
Sounds like an exciting time for the new CEO. Lets see whether he stays in this job a bit longer than in his previous three ... he certainly can't complain about the lack of challenges :D;
Oh dear - he didn't even have time so far to update his LinkedIn profile ...
I am guessing that 40 cents by the end of the month, really sad for all shareholders who kept holding in the hope for some good news
Net debt increased and now basically matching the marketcap ... not flash.
I guess they had in this situation no option but to cancel the dividend, though not sure this will help the SP.
Not sure whether we need to wait until end of the week to see the 40 cents ...
Thats a real kicker for shareholders, didn't see the cutting of dividends happening, though when you look at the cashflow statement and see that they were drawing down their debt to basically pay it in dividends, the scary thing might have been if they hadn't stopped the dividend to steady the ship. With their covenants possibly getting triggered, its not an easy decision to tell shareholders that they will cut dividends, while they have not been able to prop up the business, at least they still have some financial sense not to do things under pressure.
Without dividends,possibly a downtrending share price its like a chicken that doesn't lay eggs, do you eat the chicken now?
Looks like I got my wish - no dividends until net debt c. $60m which will be 2021 at the earliest by my calcs so 3 yrs of no divi's. On the glass half full side of things the NZ business has stabilised but will no doubt be buffetted by change come 2020. Australia looks pretty horrible - need to stop that bleeding quickly. If the new CEO does a good job here he'll be able to go and run Fletcher Building in 3 years time.