I can't see that there's any way of maintaining dividends at current level which is 50c a year. They have over 1B shares so 50c is over $500M dividend payout which is effectively 100% of NPAT.
NPAT is likely to be less than $100M this HY so even if they pay out 100% again (which they suggest they intend to do) it's still going to be less than 10c compared to 20c last HY. Personally I am forecasting about 7c div and hoping that a coal price recovery in 2H will pull the full year div up to 15-20c.
This stock at these prices is a coal price recovery play. If the NEWC price heads back to US$100 in 2H then WHC will head back to $5. If NEWC drops much more from here it will head sub-$2 IMO. I don't try to forecast the short term movements but I think over the mid term there is more upside risk than downside, particularly as OPEC seem determined to keep the Brent oil price above $60, which supports thermal coal outlook.
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Last
$7.79 |
Change
0.040(0.52%) |
Mkt cap ! $6.512B |
Open | High | Low | Value | Volume |
$7.75 | $7.87 | $7.74 | $16.84M | 2.161M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
28 | 7715 | $7.78 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.79 | 2319 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
15 | 6153 | 7.770 |
12 | 14108 | 7.760 |
23 | 46887 | 7.750 |
10 | 23216 | 7.740 |
6 | 11385 | 7.730 |
Price($) | Vol. | No. |
---|---|---|
7.780 | 1457 | 4 |
7.790 | 17127 | 15 |
7.800 | 18370 | 13 |
7.810 | 31327 | 12 |
7.820 | 30677 | 11 |
Last trade - 14.24pm 22/05/2024 (20 minute delay) ? |
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Last
$7.80 |
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Change
0.040 ( 0.56 %) |
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Open | High | Low | Volume | ||
$7.75 | $7.87 | $7.74 | 624392 | ||
Last updated 14.42pm 22/05/2024 ? |
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Dusko Ljubojevic, MD
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