re: Ann: Customers Ltd Appendix 4D Half Year ... Great...

re: Ann: Customers Ltd Appendix 4D Half Year ... Great announcement.....another 8 cents cap return taking it to 16 cents. If you read carefully the cap return will not affect the dividend pay out for the full year. EPS was dissapointing at 8.5 cps and this was due to the $4M tax bill - think it was expected carried foward losses from Asian foreray could be used against domicile income but looks like it can't be....this equated to 3 cps.
Understand that's why NZ is so important so these losses can be soaked up - i.e income from NZ would be tax free effectively for a number of years. 2nd half profit will be a fair bit stronger as the fleet migrates over to the $2.50 charge. So by my calculation 8.5 + 12 cps = 20.5. At 50% that's 10 cents div at 70% that 14 cents.