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pjproby · 2008-03-20 10:31:23

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

20-03-2008 11:31am

#1

pjproby

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Posts: 725

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

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Comments

#2 20-03-2008 12:25pm

IrishMike

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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.

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#3 20-03-2008 1:56pm

pjproby

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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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