Maybe shareholders are happy with the 2.06 cent dividend and the promise of more to come.
Maybe shareholders are happy with the annual average PE of 5.6
Maybe shareholders are happy that PPN is all cashed up again after selling its half share in the Royal Melbourne Hotel lease for a cool $1 million.
Maybe the on market buyback has cleaned up all the willing sellers. In the Period September 2008 to 30 June 2009 PPN bought-back and cancelled a total of 1,282,198 shares. From 1 July to 14 September 2009 PPN bought-back a further 681,076 shares. The total number of shares bought-back under the Plan totalled 1,963,274 shares at an on-market cost of $329,307.64.
You can find wine in wine sellers You can find coal in coal sellers You can find comedy in Peter Sellers You can even find knives in the back of Moniker Sellers But where are the PPN sellers?
PPN Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
