Under Chief Executive Officer Brad Banducci, who has been in the role one year, Woolworths has been trimming margins and selling non-core assets to cope with competition from No. 2 supermarket rival Coles, owned by Wesfarmers Ltd (WES), and fast-expanding, low-overhead German chain ALDI Inc [ALDIEI.UL].
The German juggernaut is forcing Woolie to drop prices. All good for consumers.
The company cut its interim dividend to A$0.34 from A$0.44 the previous year, its lowest interim dividend since 2006.
Crikey the lowest interim divi for over ten years!!
News: UPDATE 1-Australia's Woolworths cuts dividend as half year profit slides, page-2
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