i am absolutely flabbergasted that it ever traded at $10.
i don't see how a stock with 40c annual dividend and $200m NPAT would be worth $8 billion. it would have been on a p/e of 40x. am i missing something here?
let's say they will pay 20c a year in dividends moving forward, or about half current levels, a sp of $1.60 to $2.00 would be fair value imo.
four dollars next year, page-3
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