Dividend restart gives market hope Myer can outrun its past
Myer might have a legacy as one of the titans of Australia’s retail sector, but the tiny dividend paid out of a relatively small profit provides a reminder of what Myer has become and must continue to be.
Chief executive John King, who was appointed in April 2018 to try and revitalise the group amid strident criticism from major shareholder Solomon Lew, portrayed the 1.5¢ per share interim dividend announced on Thursday as a sign of confidence that the retailer is emerging from a long period in the wilderness.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
