Incitec Pivot Ltd T.IPL

RE:Thoughts on IPL

[Toppicks1]

Fantome wrote: As some here have mentioned...

The previous IPL PR did not announce a dividend cut....at the time I expressed questions about this.  Now a short while later they announce a substantial dividend cut.

While IMO..the dividend cut was necessary..it raises the issue of two important facts or views by the market..and more imprortantly...The Street..

1..if the dividend was in danger...why didn;t they annouce it in the last PR..the SP rallied on the annoucement in the expectation that they would find way not to cut the dividend.  further the previous PR left the impression that a storage deal was immininet..today..it is not

2..all this leads to a question of credibility and honesty by mgt...they hung the long term shareholders out to dry

In accordance with my investment disclipline and experience working on The Street for many decades..I sold today...

One of the key decision factors for for is.."Do I trust mgt?"...the answer here is clearly NO!!!

As some posters here have mentioned...nothing of substance has changed from 11 days ago...the only conclusion that can be drawn is that ...mgt has a poor communications strategy and more inportantly they cannot be trusted...

What was your buy in price.