That is a historical carry-over. At 31/12/23 they still had $114.2m of gross carry-forward tax losses to chew through, which they will no doubt use in full through the next 6 months.
It will be interesting to see Miningnut's views, but a quick analysis based on this half year, shipping rates, current prices and hedging book suggests they will have about $55m of "net" taxable income for FY24 on which they will actually pay tax on - leaving maybe a $17m franking credit balance at 30th June.
If correct, that would be sufficient to pay up to 3.0c per share franked dividend when they report at full year.
Half Year P&L prediction, page-25
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Last
41.3¢ |
Change
0.003(0.61%) |
Mkt cap ! $501.1M | |||
| Open | High | Low | Value | Volume |
| 41.5¢ | 41.5¢ | 40.5¢ | $129.3K | 313.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 11561 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 41.5¢ | 135035 | 13 |
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| Last trade - 11.30am 17/06/2024 (20 minute delay) ? |
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Last
41.0¢ |
Change
0.003 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 41.5¢ | 41.5¢ | 41.0¢ | 36599 | ||
| Last updated 11.47am 17/06/2024 ? | |||||
| MGX (ASX) Chart |
