The company did state that its interim fully franked dividend will remain at 11 cents but its final fully franked dividend will need to be reviewed by the board over the next three months.
Tamawood cited a number of contributing issues to its downgrade including the banking royal commission, Labor’s election campaign policy on capital gains and negative gearing, and land prices not dropping as much as house prices.
A home-building company
Tamawood’s principal business activities are contract home construction, home design and other associated activities in Australia.
The company is based in Brisbane, Queensland and most notably runs the Dixon Homes brand.