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  • 20-03-2008 10:31am
    #1
    pjproby
    Registered Users, Registered Users 2 Posts: 843 ✭✭✭


    share price is dropping in the last few days due to their imminent exclusion from a high yield index. Are they worth buying? Their dividend policy has always been generous


Comments

  • #2
    IrishMike
    Closed Accounts Posts: 2,698 ✭✭✭IrishMike


    They are going to be 4% down on forecast earnings all other things being the
    same due to the effect of currency translations.
    17% of their 2008 forecast revenues are from S Africa alone and the rand has taken a huge hit
    this year.
    People are probably nervous coming up to their report next Thursday so some selling in
    advance of that may also be pushing their price down.
    A bad set of results may see the price falling further.
    Probably best to hold off for a week instead of taking the gamble.


  • #3
    pjproby
    Registered Users, Registered Users 2 Posts: 843 ✭✭✭pjproby


    Thanks for the advice
    They paid a total dividend last year of 12 cents which makes it a very attractive yield based on today's price of approx 1.62


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