Iron ore price, page-15632

Commsec (FMG) consensus earnings revised up

2019 Earnings Per Share ^$1.426 (Presume A$)

2020 ^$1.905

2021 ^$0.963

https://hotcopper.com.au/threads/iron-ore-price.3290357/page-15402?post_id=39962333

2019

Dividends

Say 60% (of A$1.426) = A$0.85

Ignoring 2 Special Dividends Paid = A$0.11

Leaving a balanceA$0.74 as Final Dividend

If includeSpecial Dividend then no Final Dividend as A$0.90 already paid.

“The lastparagraph suggests that there will be another dividend payment in Sept./Oct.2019 covering the second half of FY 2019. How can it do that without violatingits 50-80% payout ratio policy? The answer is the two "special" dividends paid out so farthis year are not counted as part of the normal payout by the company. Only A$0.11 of the expected A$0.70 earnings per ord expected for FY 2019 count in this policy, or about a 16% payout ratio. Since FMG is committed to paying out 50-80%, the remaining dividend to be declared in Sept. 2019 and paid out in Oct. 2019 could range from A$0.23 to A$0.44 per ord, or US$0.32 to US$0.60 per ADR (i.e. FSUGY share):”

CONCLUSION

Dividend= A$0.23 to A$0.74

Next week will tell