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10.5%

31.5¢ avjennings limited

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Smugtown

1,621 Posts.

219

19/08/16

01:03

Post #: 18553885
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Originally posted by Smugtown ↑

Consider this for a moment. AVJ have promised to pay out 40-50% NPAT.

In F15 they paid out dividends of 4c (1c & 3c) based on NPAT of $34.4m (H1 $11.87m & H2 $22M). Each 1c of dividend payment represents $3.844m in value. Therefore they paid out $15.37m / $34.4m of NPAT = approx 45% payout of dividends.

In F16 H1 NPAT was $16.5m. If profit is weighed toward H2 again - and AVJ have indicated this is so, let's assume it is similar to FY15. Therefore we would expect H2 profit of approx $31m. Full FY NPAT of approx $47.5m.

So, 40-50% of $47.5m = $19m-$23.75m.
With each 1c dividend representing value of $3.844m, we would expect full year dividend payment between 4.94c & 6.17c.

We had an interim dividend of 1.5c, therefore the full year (fully franked) dividend should be between 3.44c and 4.67c. Based on last years 45% of NPAT payout, the final dividend would be close to 4c.

4c / share price of 59c = 6.8% return (FF) on final dividend alone! That's almost 10% with the franking credit for a half year.

BUY on all metrics.

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A smidgeon under what i was expecting/predicting but still very strong results.

And no surprises - all of the information was already out there - and we were trading at just 52c a couple of months ago

AVJ Price at posting: 71.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 31.5¢		Change 0.030(10.5%)		Mkt cap ! $175.8M

Open	High	Low	Value	Volume
29.0¢	31.5¢	29.0¢	$14.94K	49.48K

Buyers (Bids)

No.	Vol.	Price($)
1	21403	31.5¢

Sellers (Offers)

Price($)	Vol.	No.
32.0¢	5000	1

View Market Depth

No.	Vol.	Price($)
1	21403	0.315
1	15260	0.305
2	37428	0.300
1	5000	0.290
1	17000	0.285

Price($)	Vol.	No.
0.320	5000	1
0.330	11650	2
0.335	5000	1
0.340	24509	2
0.350	143633	1

Last trade - 15.30pm 08/08/2024 (20 minute delay)

AVJ (ASX) Chart