Well the figures are out and its an estimated 9.2 cent dividend in FY 2012 on a net operating profit of $12.4 million, not far off your figures PPUP.
The company said their new hedging arrangements where
exclusive of lender margins, which makes it difficult to asses the actual rates they will be paying. Has anyone an idea of the costs we will now incur for our $170 million of debt, because I still think the Company will be earning considerably more per share than they are indicating they will be paying out. I dont mind because it will come off the debt, but it would be nice to work out their potential future payout, now that all the loans and rental incomes are secured. I just feel their maths are a little conservative, but hey, I got a load at 14 cents 2 years ago so pretty happy to see the dividends back and 9.2 cents is still a good return, even at current prices.
back of an envelope., page-6
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