The Omnia results reported in Business Day on November 29 do not paint a pretty picture. The six months ended September showed a negative free-cash flow of R1.32bn, the same as in the previous year. Yet the company paid dividends totalling R123m in both six-month periods.
To borrow where interest rates are very low to pay dividends is tolerable, but not in SA. If I were a shareholder I would be very worried.