Well, the profit for this year is going to be about $60m so that shouldn't be a problem.
Keep in mind they booked a pre-tax profit of about $45m on the sale of liquip.
Also, accumulated losses are irrelevant for dividends. As long as you make a profit in the current year you can pay profits out of that. So only need to make a profit of around $9m this year to pay a 3c dividend.
As an added bonus, they have accumulated franking credits from prior years so can pay a fully franked dividend.
Having said all that, I wouldn't expect much of a dividend. They still have too much debt evenafter the sale of Liquip given the capital tied up in the Atlas contract. Hopefully they sell Cloncurry Quarry soon which would be a big help.
- Forums
- ASX - By Stock
- AGO up 40%
Well, the profit for this year is going to be about $60m so that...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MCS (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online