Cavalier Corporation (CAV) (MIR 667)
The wool scouring and carpets company (CAV)
has been an indifferent performer for many years but it has made up for that by
being a regular payer of a generous dividend yield, which over the past 10
years has averaged 9% including imputation credits.
A profit warning and the cutting of one of
its two interim dividends therefore were particularly shocking and investors
quickly deserted the shares. On one day this week, it lost 17.4% to $1.90,
returning it to its multi-yea ...
