If so, could this explain the share price weakness.
The market is 'looking through' the next two years and pricing TLS based on a 15c dividend.
If i go quickly back through the last 10 odd years, EPS has gone nowhere, and CFPS has gone down.
Therefore all the 'energy' by management seems to be an end goal of just sustaining TLS long term EPS not really growing it on a sustainable basis.
If this is correct then without long term EPS growth, there is only the dividend. If that dividend is 15c, then surely its quite possible for TLS to drop below $3?
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