Based on current announcements and a whole lot of assumptions,...

Based on current announcements and a whole lot of assumptions, what would you pay for a company that:

- Est 2016 NPAT of approx $10m.
- Est fully franked dividend payout of around 60% (this equates to 4 cents per share or on a grossed up basis 5.7cents) or >12%
- No debt

A lot more than 30 cents per share (i.e. market cap of $47m)

The only reason this company is trading at these levels is because the company has had three profit warnings. It is almost expected they will issue another before year end.

I am happy to accumulate more at these levels, however, it does make me slightly throw up when I see the share price hover below 30 cents. I am up to my eyeballs in this stock and have a bias towards them, however, if we can get a positive strategic review and confirmation of divies being paid, I am happy as long as the stock can at least maintain the current level. >12% beats 2% at the bank.