Posted in | Mining Business

Asciano Announces No Dividends

Asciano investors may go on the rampage with the announcement of no dividends being made with minimal fanfare. Especially when the announcement comes hot on the heels of a $900,000 bonus being paid to the controversial Chief Executive Officer Mark Rowsthorn as a retention payment.

Malcolm Broomhead, the new Chairman of Asciano will have to explain to the shareholders why they were not getting even the 2¢ a share dividend which had been expected. He will also have to explain why Asciano is going to report a loss this half-year thanks to the 'write downs' of goodwill.

Investors may not be interested in learning about the projected expansion and growth plans for the company when it becomes obvious that the company is not making enough money to hand out regular dividends. While it may make good economic sense to withhold the dividends the company will not be making its shareholders happy.

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Scanlon, Joel. (2019, March 19). Asciano Announces No Dividends. AZoMining. Retrieved on May 06, 2021 from https://www.azomining.com/News.aspx?newsID=39.

  • MLA

    Scanlon, Joel. "Asciano Announces No Dividends". AZoMining. 06 May 2021. <https://www.azomining.com/News.aspx?newsID=39>.

  • Chicago

    Scanlon, Joel. "Asciano Announces No Dividends". AZoMining. https://www.azomining.com/News.aspx?newsID=39. (accessed May 06, 2021).

  • Harvard

    Scanlon, Joel. 2019. Asciano Announces No Dividends. AZoMining, viewed 06 May 2021, https://www.azomining.com/News.aspx?newsID=39.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit