this will bounce to 90 cents by christmas. even macquarie are not stupid enough to screw up the 17 december announcement.
this announcement should provide:
- clarity around the divvie. and they know this is a yield stock, therefore guess they will only cut to about 20 cents per annum
- confirmation that they are not going to do anything stupid with the cash balance. Therefore a reasonable discount to cash will become the new floor price for the company. i would suggest this will be around 90 cents, but could be higher.
- possible on-market buyback for 10% of the stock. hard to know whether they will do this. am guessing not.
MMG Price at posting:
47.8¢ Sentiment: Buy Disclosure: Held
