JJYS. I am presuming your expectation of a dip below $2 is based on charting? If it does dip to that level, then I think I've lost the plot ( after investing for 20 years plus). I base this on the dividend yield. Lets say in the next six monthly periods the dividend dips to 8 cents, ie, 16 cents per year. If you take advantage of the 100% franking credit then that equates to a return of approx. 23.5 cents over a year. At a $2.00 share price, should it reach that, that would be a dividend yield of 11.75% pa. That's fantastic and obviously will be more if the current dividend is maintained. I still am not clear on why it fell from the $2.50 trading range not all that long ago. I know the proposed merger had some people thinking that MYR might have to make sacrifices to get the merger across the line, but as there now is no merger then for the life of me I cant imagine why the share price should fall below $2 from its new range of $2.10 -$2.20. Anyway if it does I will surely be topping up my SMSF.
MYR Price at posting:
$2.15 Sentiment: Hold Disclosure: Held
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