Expecting another 4cent dividend fully franked, I see no reason why not based on previous yearly earnings per share comparable with the dividends paid. Next year could see the dividend at 6cents full year if market conditions continue. Second half profit forcast $25million pre tax. Therefore next years profit forcast around $50 million pre tax. 143.5 million cash at bank, low interest US dept around $450 million.
Not a good outlook if oil does not improve but a worsening outlook unlikely even if oil crashs as companies have already cut expenditure to the bone. If oil price heads towards $80 average then its game on again.
MRM Price at posting:
66.2¢ Sentiment: Hold Disclosure: Held
