Gaining some serious market share
Woolies* reported really good results that saw the share price adding almost 10% in the two trading days after the release. But where’s my dividend? An interim dividend of 96.5c is down from the previous 101c and after the rights issue there are more shares in issue, but I am not convinced, and the retailer managed to completely gloss over the decrease. Cutting my dividend always makes me an unhappy shareholder. I continue to hold as the results were great and its Australian David Jones acquisition could become huge. Locally, Woolies is gaining serious market share in the food-retail space (so, who is losing here – Pick n Pay?), while local clothing had a rough patch.