Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi guys your thoughts on Magellan they have continued to struggle Do you think they will be able to have a divedend around the forecast 10% mark which should support the share price or if the divedend disappoints the share price will drop further Thanks Tony
Hi Tony,
We’re down 11-14% on our position depending which portfolio. We don’t think the dividend will be 10%, expecting 65cps split 30c in August and 35c in Feb 25. That puts it on a yield of ~8%. We’re long and at this stage wrong, however we are fairly confident about the level of the dividend given the excess capital on the balance sheet and cost cutting that is underway. We covered MFG in more detail here during the week.
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