FMG 0.00% $20.47 fortescue ltd

Ann: Media Release FY18 Results, page-9

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  1. 6,322 Posts.
    lightbulb Created with Sketch. 2514
    By a fluke of numbers my estimate for underlying NPAT was exactly right - I had $1.100B in my spreadsheet. Might as well give up now as I will never be that accurate ever again.

    Got the div slightly wrong though, was expecting 15c but the board has (cheekily) based their 62% payout ratio of statutory profit and not underlying profit, and stiffed us a few cents. Good result overall though given the well-documented issues around the price realisation ratio.
 
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