If I were a holder, I'd much prefer a fully franked dividend... Or a return of capital.
If they used the entire cash holding to buy back shares. trailing EPS would rise 1.2%... Wouldn't shareholders prefer a 30c special dividend, plus some franking credits? (only ~$3m in FC, but it's still something). Then they can decide whether or not to buy more PME shares with that money.
EDIT: I get it, this thing is growing profits very quickly. But even at today's prices it seems awfully expensive at over 100* Trailing PE
Ann: Daily share buy-back notice - Appendix 3E, page-6
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Last
$149.02 |
Change
8.020(5.69%) |
Mkt cap ! $15.56B | |||
| Open | High | Low | Value | Volume |
| $142.57 | $149.02 | $140.91 | $63.48M | 431.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 231 | $148.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $149.22 | 10 | 1 |
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| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| PME (ASX) Chart |