2 Cheap Cars shares get less cheap

Hybrids and EVs now account for more than half of 2 Cheap Cars' sales. (Image: Toyota)

Wed, 27 Sep 2023

Shares in 2 Cheap Cars jumped by 10c – or 16.1% – to 72c on thin volumes in mid-morning trade after the company reaffirmed profit guidance of $5.2 million to $5.7m and said it would pay a total dividend of 10c for the 2024 year.Chair Michael Stiassny said the used-car dealership's policy was to pay 50%-60% of net profit after tax, which – based on the midpoint of guidance – would translate to a gross interim dividend of 5c and the same again at year-end.Speaking at Thursday's annual meeting, Stiassny said th...

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