In the May 2011 investor call NC stated he looked forward to LYC moving to real production and revenue and being able to provide a real return to shareholders, I assume by this he means paying a dividend.
Well it's getting on to 12 months later and I'm optimistic enough to think production and sales will commence next quarter, so I'm working on my expectation for next years dividends.
Basing calculation on 11000 tons of REO at an assumed sales price of around $60/kg, costs at $15kg and 2,000,000,000 shares on issue. I figure next years earnings will be in the order of 33 cps.
What payout ratio is likely for LYC? Seeing as the phase 2 expansion is fully funded would 50% be unrealistic?
Would some of the revenue be held back in Lynas Malaysia rather than being repatriated to the parent company and on to dividends? How does repatriation work, does LYC Malaysia pay a div to LYC Australia and does LYC Aus then have to pay income tax on that?
prospect of dividend in 2013
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