Jam Tomorrow26 Nov 2020 08:01
While I can see how a progressive 21p dividend looks going forward, as a longish term holder I feel a little underwhelmed. It all feels a little mealy mouthed and bedgrudged and that the shareholder is picking up the tab for their miscalculation in the French business.
Call me cynical, but it feels like the bare minimum to stop an exodus.
Has anyone got an idea of the target debt ratio which would trigger a return of what is currently 15% surplus capital? I get the impression that they'll keep revising the debt ratio, because their previous behaviour shows they care little for any class of shareholder.
I bought this as a long term income generator, with current divis being reinvested so can wait it out, but this company has seriously underperformed.