Ann: Market Update, page-3

This is quite an impressive revenue and profit chart over the past 4 years, and there is no reason why it won't continue, given the ramp up in projects and spending by the ADF.

From my calculations, this would enable Duratec to provide an initial dividend of approximately 5 cents a share, or higher.

I'm not sure if they are going to give an annual dividend, or split it into two payments, issued every 6 months.

Mind you, my estimate is based on the current profit, but as we can see, it's risen by more than 50% every year, so the initial dividend payout may indeed be higher than expected.

A lot of their engineering business is conducted with the Australian Defence Force, and as we know, defence spending is booming and only going to increase further.

There is also an incentive of course, to provide a big payout dividend, since directors and insiders own about 80% of the stock.

Gw