I was just looking at the forecast EBIT for the Australian businesses of BSL. It appears H1 FY23 EBIT was around $300M and a similar result is now expected for H2 which would mean around a $600M FY result and therefore around $180M paid in Tax to the Australian government. My simple math skills tell me that BSL should be able to pay out a fully franked dividend around 90c ($400million) for FY23 or 65c per share in Sept/Oct. They would still have all the EBIT from the USA, NZ, Asia businesses which will allow the buybacks to continue and business expansion if something good comes along. The share price will continue to linger in the current range if the board don't start increasing direct returns of the massive profits they have made over the last few years.
BSL Price at posting:
$18.96 Sentiment: Buy Disclosure: Held
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