re DSB: As they recover, look at underlying EPS of 3.43cps? / 20c = PE 5.8x
Add in a .008c divvy at 12.5c so add another 5% gross.
If they keep turning it around AND coal has bottomed, hence the interest since last report, then a 2cps divvy is not out of the question next year. 10% + Franking. (they have signaled a 60% payout ratio going forward = confidence).
Still being chased at 20c, and still cheap on metrics.
paying a divvy, then I believe a PE x9 forward looking and 4cps EPS. Fair value should be up around 32-36c. (over next 12 months)
