As the Sp has continued to decline despite Mgmnt saying they will grow EPS in F15 it is now reflecting much better value than at anytime in the last 12 months. The 40c dividend yield on a $7.33 sp equates to about 5.5% DY and around 7.5% DY with the franking credit added back. It is likely that the market will wake up to these very solid metrics quite soon. Sadly Mr Market can be very irrational and I would not be surprised to see the sp dip below $7.00. Sentiment is a powerful force and it can be dangerous to fight the current trend. Long term I believe this is a great wealth winner to use Howard Coleman's terms.
SUL Price at posting:
$7.33 Sentiment: Buy Disclosure: Held
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