IMO using the buy back funds to pay for a 2c dividend for the next couple of years would get the share price rerated just on yield alone. I am disappointed that there has only been a partial sale as we now have a higher fixed costs ratio. Sounds like a good price was received for the sale but does that mean there was zero interest on the rest?? The commercial music sponsorship that I pointed out before is not much an issue in that it probably isn't a material $ amount but for the long term holders it really is just taking the piss. Everybody is getting a slice but the shareholders. What are the substantial shareholders doing about this???? The board needs to be on notice. A problem for the share price in general is gas prices which have follows the amu share price down over the last 2 years. They have ticked up a little lately but they need to get back to 5-6 mark to generate some decent revenue. I await the quarterly report.
AMU Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held