Sorry I am late to the game here but I think the divi will potentially be lower for a couple of reasons. The expanded share base of ~685m shares @7cps = ~48m - the company has stated a divi poliy of 40% of underlying NPAT, so this infers a NPAT of $120m which is above guidance of ~$98m. The other reason is that last years 7cps divi was 3.5c interim +1.5c Final +2c Special divi - so really the base divi is 5c P.A. They may have had a cracking half and may keep the interim at 3.5c but don't forget they also have a substantial debt in USD (meaning as the AUD declines the amount payable increases - of course this is partly offset by USD earnings).
Anyway it's going to be an interesting result - anyone know when they report ? I assume this week but not 100%. Has anyone got an idea of consensus earnings or a research note from a broker ?
Cheers GLTAH and DYOR.
Is Dividend Sustainable?, page-19
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