Ann: Annual Report to shareholders, page-2

Pretty impressive going for this micro manager, locked in five year worth of dividend payments with one years profit. Well below NTA still, and a healthy 8pc yield. Only complaint, not fully franked, 50pc franked.

They have a better portfolio than a year ago, less resources stocks, more industrial, but might have copped a hiding recently with G8 and some other big fallers in the sell off. Still, one for the long term, if we EVER get another bull market, this will be back to $2.50, as investors search for value and he smaller stocks!

I brought more yesterdat at $1.05, certain bounce to $1.20 again before next dividend!

Thoughts?