Tabcorp Chairman Backed Directors: What You Should Know?


The chairman of Tabcorp Holdings Limited (ASX: TAH) stood to back the attempts which were being made to attack the accountability as well as performance of the directors. The attempts were witnessed in regard to its plans to expand into Britain which, however, failed. As per the chairman of the company, the proxy advisers as well as investors were shooting questions on the directors’ as well as management’s accountability. These questions were flooded over the joint venture of SunBets with the New Corporation in Britain which the company abandoned. The questions were also raised over the anti-money laundering provisions which were breached by the company and, as a result, the action was taken by the AUSTRAC or Australian Transaction Reports and Analysis Centre.

The chairman of Tabcorp stated that the company’s board acted in a strong position in respect of the concerns related to the money laundering. She also stated that the government agency i.e. AUSTRAC was also able to acknowledge the response which was provided by Tabcorp. The chairman is of the view that doubting the directors’ accountability is incorrect as well as unfair. Coming to the second one, the chairman stood even more stronger for the SunBets case. According to her, the risk was taken by the company was completely reasonable as the startup was not expected to impact the dividend of the company. However, the management of the company had witnessed a fall in their remuneration. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

The board of Tabcorp deals with the issues as well as opportunities in a vigorous manner. The deal with SunBets was surely a strategic one but the Tatts deal is another strategic opportunity. The top management is highly optimistic about the outlook of the company and views that deployments would be necessary in any business to achieve growth. They also stated that these types of investments also help in boosting the shareholders’ value as well as broader economy. These investments generally pay off in the long-term. The top management, while backing the actions, stated that all the investments would not be working as they have planned.

Tabcorp witnessed the strike against the remuneration report for the key personnel from the shareholders in the official meeting and hence key personnel decided to cut the entire bonuses so that the merger completion with the Tatts Group gets executed. The proxy advisers as well as investors were not impressed in respect of the cash and share payments and the chairman of the company stated that the company will be altering the conditions in regard to the share payments.

Even though the company did come out with the trading update, Deutsche bank reflected favorable views for the company’s outlook for 2019.

Tabcorp ended the day (October 17, 2018) with the stock price of A$4.760 per share which implies an increase of A$0.120 or 2.586% intraday. The company has a market capitalization of $9.35 billion. Its annual dividend yield stood at 4.53% and the company’s stock price is presently trading slightly towards the lower range.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report