Keen to get your thoughts on Coffey finally paying a dividend this coming financial year. Have not seen language as strong as in this years AGM presentation from Coffey Executives before regarding a dividend payment. See slide 8 of AGM Presentation and discussion point around dividend payments on pages 11-12 in the AGM Addresses. Appears they are in a bind to pay dividends by July 2015, question is how much?
If there are $15 Million in Franking Credits stored for future use, does this mean COF need to pay out approximately $30 Million in dividends for shareholders to get the full benefit of the stored credits? This would mean COF need to pay dividend of 12 cents per share to fully utilise Franking Credits.
Not sure I would want them to pay out the whole lot and would question where they would get the money from. Believe things are looking brighter on the dividend front in the coming financial year.
All will be revealed on the 9th of February, if not sooner.
Best of Luck
Lost
COF Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
