Maybe share price needed adjusting! @ $3.30 I make current dividend yield 5.75% which is just acceptable as to. @ $3.60 div yield 5.3%
what is more important to see if company is profitable is earnings yield @ 3.60 I make earnings yield 6.1% @ $3.30 earnings yield is 6.7%
Single digit is not growing or highly profitable. 3 years ago earning yield was double digit. But the strange thing is Free cash flow shows steady growth year after year. Company increased profit by 11% for the FY.
I think its the $140m they are holding in cash. I believe AZJ offered to buy pier 29 in South Australia, to get a presence in South Australia stevedoring. South Australians don't like interstate interest taking over South Australian interests. I was told by a local "Good luck trying to buy that". Meaning you have a fat chance of doing that.
Now they plan a share buyback which will shore up the balance sheet a little.
AZJ Price at posting:
$3.30 Sentiment: Buy Disclosure: Held
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