A 3c dividend in August gives us a total of 5c for the year. That puts us at a PE ratio of 35 right now. You mention a forward projection PE of 30, so I assume you must be expecting continued stability and / or growth in the dividend. In any case, I doubled my holding today. There seems to be some good support at $1.70, which is exactly where we saw support in the months leading up to AEF's inclusion in the All Ords. I am optimistic about AEF joining the ASX300 in September. They have the market cap, just not sure if they meet the liquidity criteria.
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