Divi cut and placing?5 Aug 2015 11:45
So the divi has been rebased, sounds better than a cut and a placing is still "on the table" The divi cut, whilst not great news for a divi lover like myself might be a blessing in disguise.
They are also looking at the return on the money I gave to them and are targeting an almost doubling whilst admitting that even at 10% is a tad low. Lots of the main metrics are poor but there is a glimmer of a silver lining.
Cost cutting, risk reduction and more capital should help turn around the bank. Hopefully this can get back to a more stable, growing (including divi) more profitable bank.
The market seems confused with the SP falling and rising and not knowing which way to flip flop. Some think the divi cut is good news, I have mixed feelings but expect the future to be better. Lets see what the management have to say first. The Q&A might be interesting. More kitchen sinks than a B&Q sale going on at the moment!