Just a rough calculation here.
They currently have $62mil of securitised debt left plus $210 mil in the bank. They will have a new securitisation debt facility of $200 mil which I assume pays out the $62mil.
So they will then have cash of $348 mil and a business by my calcs assuming an 8% interest rate earning between 73mil and 80 mil per year NPAT.
The cash will represent abut 29 cents per share so the div could be about 20 cents per share.
The ongoing eps will be at least 6 cents per share which could mean an ongoing ff div of 4 to 5 cents per share.
No wonder Orbis keep buying. They will soon have about 20% of the issued cap and will have a strong say in what the next special div should be and by my understanding they want the max.
Just a rough calculation here.They currently have $62mil of...
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