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SEB at R1.01 is trading well below book value, but the coal headwind keeps getting deeper. Has anyone done the numbers on whether the dividend can survive another downturn, or are we just catching a falling knife here?
Grabbed a parcel of SEB at 0.83 last week and today's 8% pop to 0.90 is encouraging, though the coal headwinds remain a concern so I'm taking this as a chance to reassess my thesis rather than a buy signal.
Current R 1,35 — 50% of range
Fundamentals sourced from JSE disclosures. Updated quarterly.