Final dividend likely to be at least $2.25 a share now, page-58

$2.17???? You're close but not quite there mudcrabs....


Please see a more accurate Full-Year dividend prediction of $2.32 below:

FMG6 months production: 90 million tonnes

Averageprice received: Say USD$155 a tonne

FMG'All in' cost: USD$45 a tonne (incl. C1, interest, depreciation)

Net Profit: USD$9.9 BILLION

AUD/USDExchange Rate: $0.775c

AUD Net Profit: AUD$12.774 Billion

AUDTax Payable (@30%): AUD$3.832 Billion

NetProfit available (for Full-Year Dividend): AUD$8.942 Billion

Full-YearDividend @ 80% payout ratio (i.e 80% of $8.942 Billion) = AUD$7.154 Billion …or $2.32 a share