In a way you can add 10 cents a share to the accounting profit to get the profit after capex and asset sales. A cash flow profit of sorts.
Accounting profit (Reuters has it at 22 cents less 10%) = 20 cents + 10 cents = 30 cents
Dividend = 12 cents which is 40% of 30 cents Debt reduction = 18 cents which is 60% of 30 cents
So I think the board will announce another 6 cents a share dividend for 2H14
. The writer implies no investment recommendation. This report contains material speculative in nature. Investors should seek professional investment advice. The writer owns shares in Arrium.
ARI Price at posting:
75.7¢ Sentiment: Hold Disclosure: Held