Amareos

Federico Bagiotti, CFA

Equity Bottom-Up

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/020/820/original/StarHub.png?1487019677" class="editor-image img-responsive" data-smartkarma-image-id="20820"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/020/821/original/ASSFN%20170214%20StarHub%20Table.png?1487019919" class="editor-image img-responsive" data-smartkarma-image-id="20821"></figure><p>At the beginning of February StarHub Ltd released a really terrible set of results for its FY2016 and cut its dividend by 20% for FY2017 to 16c per share. Even though it probably should not have been, considering that the FY2015 and 2016 dividends were financed out of reserves and debt, the dividend cut in particular came as a harsh surprise to investors.</p><p>As shown in the exhibit below, StarHub has been struggling for quite some time to be a crowd-pleaser. Indeed, one needs to go back all the way…</p>

At the beginning of February StarHub Ltd released a really terrible set of results for its FY2016 and cut its dividend by 20% for FY2017 to 16c per share. Even though it probably should not have been, considering that the FY2015 and 2016 dividends were financed out of reserves and debt, the dividend cut in particular came as a harsh surprise to investors.As shown in the exhibit below, StarHub has been struggling for quite some time to be a crowd-pleaser. Indeed, one needs to go back all the way…

StarHub Ltd

StarHub's Changing Constellation