Metcash cancels the dividend

We've been warning about Metcash’s dividend since 2012. After last year’s cut, today it was cancelled altogether.

Wholesaler Metcash is slowly – but belatedly – acknowledging that its debt levels are simply too high for the ‘increasingly competitive trading environment’. On 15 June the company will announce its results for the year to 30 April 2015, results that are likely to show net debt exceeding $900m.

The seasonal nature of its business means that net debt is usually significantly higher than it reports at year-end – and it’s too much for a company with a market capitalisation of barely $1bn.


SMS Code Sent…

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Log in to access this content

Looks you are already a member. Please enter your password to proceed

Hi {{ user.FirstName }}

Verify your mobile number to unlock a FREE trial

Looks like you've already taken a free trial

Please sign up for full access

Updating information

Please wait ...

Related Articles