MTS 1.39% $3.54 metcash limited

Ann: FY14 Guidance Update , page-13

  1. 185 Posts.
    My previous formula should read

    (((($0.28 / 0.859) * 0.85)-0.135) * 0.6) where

    $0.28 = previous year div
    0.859 = payout ratio
    0.85 = assume this year earnings only 85% of previous year
    0.135 = EPS first half 2014
    0.6 = 60% payout

    so we're looking at a EPS 2nd half of around 14.2 cents, div 8.5 cents. which in total gives you

    (0.085+0.095)/$2.85 = div yield 6.31%, PE roughly 10.5

    Not too bad, the only thing that annoys me is the net tangible asset level. I don't like that.
 
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