re: Ann: Ceasing to be a substantial holder f...
Ocker your estimates were 3.7% to 9.8% below actual.
The total dividend represents a 67% payout ratio. I suspect they will increase the dividend payouts as debts are paid down. Otherwise cash will just accumulate in the company bank account. The fully franked dividend represents a current yield of 9.1% (this compares with interest rates of 4.75% which is expected to decline to 4.25% by year end).
I noticed a $2.3 million expense relating to mark-to-market value of existing options this year.
I would expect that sales in Australia will be stable to down 5% yoy, but also expect sales in Asia to continue growing.
All in all, given the market cap of about $200 million for MCP... I'm stoked at the returns they're generating.
MCP Price at posting:
$2.84 Sentiment: Buy Disclosure: Held
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