After reaching a 6-year high of $5.75 on December 27th, shares of TabCorp dropped over 10% to post an intra-day low of $5.10 on January 25th.
In our January 10th blog, we suggested that investors could look to buy TAH in the $5.20 area for a move back above $5.70 over the medium-term.
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TAH will go ex-dividend for 12.5 cents per share on February 7th and report their first-half results the next day.
This will be the first look at the company’s results since the merger with Tatts Group and could show impressive growth guidance, as well as cost savings.
At the current price, the 12.5 cent dividend reflects a 4.7% annual yield.
We believe it’s reasonable to expect the TAH share price to firm into next week’s results with initial resistance in the $5.70 area.
TabCorp
