In 3Q 2018, I also received questions from readers on QAF and they were similar to this comment from 9 August 2018:

Reader said…

at the current price weakness and offering a dividend yield of almost 6%, will u still considering nibbling??

AK said…

QAF is now trading at a discount to NAV and there is also some insider buying activity.

I would buy some if I weren’t already invested and if I didn’t have other investments that are tempting me to buy more as well. ;)

Revenue and earnings have been declining at QAF as they face rather challenging conditions.

They are spending more on advertising to defend their bakery business while their pork business in Australia continues to face oversupply pressure.

Having said this, QAF is rather conservative and has a pretty strong balance sheet.

Although I feel that QAF is still able to sustain a DPS of 4c or even 5c based on the strength of their balance sheet while waiting for improvement …