You're looking in the rear vision mirror jemma, you will not get anywhere near a 15% dividend yield in FY10. The company has signaled that they are going to retain capital so the 100% payout is off the table in the medium term.
Unfortunately the company is expanding into Spain at the worst time possible. Remember that they will lose money in Spain for the first 12 months. I've been happy to hold this stock and take the dividend until growth can be realized 2-3 years out, however now they seriously undercutting the reason to hold the stock.
REF Price at posting:
73.0¢ Sentiment: None Disclosure: Held
