To put things in perspective CDA had $12m of cash at Dec18A and generated npat of $22m. Management chose to declare a dividend of 4.5cps plus a special dividend of 2cps.
Assuming cash of $45m Dec19 that equates to 25cps in net cash and npat of $30m in the first half. This should justify an ordinary dividend of 6cps and given the cash position a 6-7cps special dividend.
CDA Price at posting:
$7.85 Sentiment: None Disclosure: Held
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