LOL - I am waiting for the new financial year to get a job.
And to bring some balance to the analysis: - TTS has an unsustainable dividend payout ratio of 87.4% of earnings, so it is hard to see current payout being maintained over the medium term - TTS has introduced a DRP which will offset the depletion of capital from the high dividend payout ratio, however at the expense of future earnings dilution - TTS's victorian gaming licence expires in 2012. TTS will need to bid for the licence with any bid costs requiring amortisation in the accounts. - Pokies income under threat from Victorian Government decision to reduce pokies numbers in regional areas
