It's just occurred to me that last years dividend of .0105c was based on a payout ratio of 20.2% of operating cash profit.
The Financials state the the Board is targeting a payout ratio of 30 % to 50% of operating cash profit EBITDA less capital expenditure and tax paid.
Last years results included acquisition, integration and share based payments of $4.6m. Maybe some of these were deducted when calculating the EBITDA cash profit for calculating the divy ? ( According to my very crude calculations it would seem like it. )
If this is the case then the final divy this year should be higher than last years
I would appreciate the views from others on this matter as maybe I am completely wrong.
DYOR
ACF Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
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