LOL yeah marketing gimmicks. Its solid given conditions.
Well they better come up with something to keep us shareholders happy after they didn't give us the $1.70 takeover offer.
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Market consensus was for a final dividend of 2.1c to be paid. So market is going to be disappointed.
Given many shareholders were enticed into Arvida for its dividend income, the least the company should do is to highlight why dividends are being suspended/cancelled. And when they might be resumed.
Instead, there is only one mention of dividends and it's hidden in the maze of thousands of wordsin the main text of the announcement!
Commentary from interim results Nov 2023 :
"The Board has amended the dividend policy to a payout ratio of 30%-50% of underlying profit from 1 April 2023. Guidance is provided for FY24 dividend payments to be at the bottom end of the amended range.
Mr Beverley said this would ensure a better matching of stable free cash flows to distributions as the Company’s cash flow profile matures."
amazing arv must be cash strapped , wanting to sell up , rationalize , bring in partners :scared: cut div .................. conserving cash biggly :scared: merge :scared: