Dividend of $0.003 represents 21% of NPAT. NPAT is $23.3m.
The margins in the business are relatively low and that is the benefit of the new Batu Hijau contract with better margins as MAH won't incur the same level of cost as this will be paid direct by the mine. NPAT for the half of $23.3 is only 2.3% of the $987m Revenue.
They expect a stronger second half which is good. They also have an order book of $5.6B and a Tender Pipeline of $10B. So the outlook and picture is very comfortable.
Perhaps what keeps a lid on the share price is the excitement factor. MAH's communication styte keeps a dampner on expectations.
MAH Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
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