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not too sure if paying low dividend is buffett "thinking" or "management"
but very sure that appointing his son as successor is confirmed un_buffett thinking or management...
haha!
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if paying low dividend with huge cash in balance sheet is buffett "thinking", I believe there are many many companies practicing such "thinking" not to give shareholders their fair share of company wealth.
Anyway, I got my answer, thank you very much.
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Reaching for the sky may prove a tall order
BY:TIM BOREHAM From: The Australian July 09, 2013 12:00AM
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Source: The Australian
Finbar Group (FRI) $1.36: When a building is proclaimed as the highest in the southern hemisphere, the majesty of the statement is undermined when one realises the competing geographies include Peru, New Zealand and the Falkland Islands.
With that in mind, Finbar is constructing the loftiest building in Karratha, a joint not known for its Gotham City skyscrapers.
There's two ways of looking at this proudly WA-centric property developer. The first is that it's had six consecutive years of rock-solid earnings growth and is about to have its seventh, having guided to a 10 per cent full-year profit rise to $31 million. The second is that with its exposures to the Perth and Pilbara property markets, Finbar faces similar risks to mining service providers.
Describing the Perth sales market as "reasonably robust", Finbar said it had enough sales to commence its half-owned Spring View Towers, a $100m, 188-apartment effort at Rivervale nestling the Swan River.
Finbar has also secured "sufficient pre-sales" to retire the project debt on Pelago East in Karratha, a 174-apartment addendum to the completed 114-apartment Pelago West. Back in Perth, Finbar plans to launch three new projects worth about $340m by the end of calendar 2013.
Investors are being rewarded with a 9 per cent increase in the final div to 6c, taking the full-year yield to 7 per cent.
However, your nervous Nellie columnist is freaked out by yesterday's ANZ job ads data showing a 6.2 per cent decline for WA in June, compared with the national average of 1.8 per cent. While Rio Tinto's Pilbara iron ore output (the lifeblood of Karratha) is still rising, we'll avoid Finbar.
A possible alternative is Perth-based cousin Cedar Woods (CWP, $5.49), which has Perth and regional WA exposures but hedges its bets with residential in-fill projects in Melbourne.
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Chuan Hup declares 2 cents dividends this year even though EPS fell.
With it's solid net cash position, management finally deciding to share it's wealth with shareholders?
Patience is a virtue.
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The biggest shareholder, Mr. Peh, is laughing all the way to bank...
- vested
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