D-Day... D being Dividend, page-115

Benson- stop stressing out and think outside the square.

this is one of the best buying ops. you will ever have of getting TLS at bargain basement.
the divvy equates to 9.4%FF for 13 months of holding.
and also,the 22 cents in 2018 is actually on the lower conservative end of the 70-90% payout ratio.

Penn was just overly cautious about the NBN black hole of 3 billion, but if you look at FY 18 guidance, EBIT is going to increase, and capex is steady, including 5G development costs.

also the share buybacks and special divvies just puts cream on the cake .

early next year, we have 5G trials at the C'wealth games. once people realize how fantastic the network will then be, all hell will break loose and the SP will get to your coveted $5.

ps- don't worry about NAS. it is not really that good a business as evidenced by a margin of only 3pp.

cheers crazypunter