Div cut to 12cps at 56.5c looks like a 20%+ yield to me. I bgt in at $2.05 a few months ago ( ouch !! ) ... just bgt twice as many at 56.5c to bring average down to a fraction over $1 ... still a yield of 12% ... if dividend of 12c does actually get paid then this will be cheap at these levels.
Jeepers , if the banks won't fund a water and gas utility like this what are they prepared to lend against !!
the big smackeroo, page-7
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