what is going on?, page-6

re: what is going on?.... warren.. They better do something like a buyback or start paying a dividend with the cash flow they have. At the bottom end of the range ($15m cash flow) they can pay a dividend of 9 cents per share assuming only a 50% payout ratio (pre goodwill). That is a 7.5% yield on a 50% payout ratio.

At the upper end of the range ($20m cah flow) they can pay a 12 cent dividend or 10% yield on a 50% payout ratio.

Or else buy back 20% of your stock (thank you Telstra we'll take that off your hands) every year.