Posted in | News | Mining Business

Asciano Announces No Dividends

By Joel ScanlonJun 18 2010

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.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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 November 21, 2024 from https://www.azomining.com/News.aspx?newsID=39.
MLA
Scanlon, Joel. "Asciano Announces No Dividends". AZoMining. 21 November 2024. <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 November 21, 2024).
Harvard
Scanlon, Joel. 2019. Asciano Announces No Dividends. AZoMining, viewed 21 November 2024, https://www.azomining.com/News.aspx?newsID=39.