Australia's Domain slumps on forgoing dividend payout, flagging higher costs

Digital Domain Holdings

15/02/2021 23:51

** Domain Holdings Australia Ltd  DHG.AX  slumps as much as
8.1% to A$4.860, hitting its lowest since Jan. 29
    ** The property classifieds company decides against paying
an interim dividend, saying it will wait until full-year results
to consider payouts citing uncertainty from the COVID-19
pandemic  urn:newsml:reuters.com:*:nFWN2KL0LF
    ** DHG says for FY21, total costs are expected to increase
in the mid to high single-digit range vs FY20, adding that
benefits from government COVID-19 job programmes will end in
FY21
    ** Jefferies says the expected rise in costs implies 2H21
OPEX may jump by about 40% from last year; adds that higher OPEX
may cause concern in the market, especially in the absence of an
interim dividend
    ** Stock posts its biggest intraday percentage fall since
Jan. 5
    ** Stock second-biggest percentage loser on the benchmark
ASX200 index  .AXJO 
    ** Stock up 17.8% this year, as of last close, compared with
a 4.3% increase in the ASX200 index

 (Reporting by Rashmi Ashok in Bengaluru)
 ((Rashmi.Ashok@thomsonreuters.com; +918061822604;))