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Agreed Damofari,
But I fear that the reality will be quite different. WEN has never cared much about shareholder returns, and I expect them again to try to get away with a lousy dividend increase of 10-15% max, and starting only with the second payment this year (October).
If the company reduced their excessive spending they could easily double the dividend sustainably. The cash pile should be distributed gradually amongst the shareholders with a separate special dividend.
Sweet dreams…. it will however never happen I’m afraid. Management prefers to silence shareholders with a fairytale about “value accretive M&A opportunities” instead….
mick2020; frankly they could double the dividend out of cash balance, forget the increased production/potential CPI uplift!
They won't, but i do see a 50% divi increase, probably delivered as a 'special'. I'm really optimistic here. Yes i know it's flattered to deceive, but i do think it's turning a corner; steady but sure; let's take some cash out for long term holders whilst waiting to see what the Co's long term 'vision' is
The Mnazi Bay gas sales price is linked to the US CPI and corrected annually so prices are up 7% this year; see link below. Quite incredible.
As a result though, given the 7.5 mln shares buy-back (or 4% of share capital) WEN can increase the dividend approx. 10% without losing any revenue. Given the progressive dividend policy and the fact that 2021 has been a "transformative year" for the company, I feel that shareholders should expect (and demand) a dividend increase of at leat 20%. Personally I'd like to see a doubling of the dividend, but obviously that won't happen without a restructuring of the company focussed on minimising costs.
Just for info!
https://www.bloomberg.com/news/articles/2022-01-12/inflation-in-u-s-registers-biggest-annual-gain-since-1982
https://www.bloomberg.com/news/articles/2022-01-12/inflation-in-u-s-registers-biggest-annual-gain-since-1982