The previous guidance was 10%+, but this was upgraded to 15%+ in the FY17 results release. That's a large part of the reason why the stock went on a run post the results being released.
GTK is a software business which expenses rather than capitalises its major growth costs (ie R&D and employee costs), so a high payout ratio isn't necessarily an impediment to growth given what they are paying out from (NPATA) is a number already net of growth costs.
GTK Price at posting:
$5.54 Sentiment: Hold Disclosure: Held
