Metro: Activist backer Quarz urges Metro to return cash
- Share spike today to $0.995 (+8.7%) is possibly due to the call for Metro to return excess cash to investors.
- Net cash held is at $393m, represents 48% of current market cap.
- Quarz urged Metro to pay a one-off DPS of 21¢/share, as well as provide a clearer strategy.
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