Was the "cheapest stock on the market" ....
Since my last post, SDG has risen to 1.68 (I started tracking at 1.09 mid August).
Fundamentals are still excellent. Last year dividend was 6 cents with 100% franking. Even against 1.68, that equates to 5.1% (grossed up with franking).
More importantly, EPS was 30.6 cents giving a dividend cover of 5.1!!!
Forecast EPS : 2005 = 28.4 and 2006 = 32.1
My "complicated" valuation is $3.86 based on EPS and broker recommendations, making it an easy exposure to property. If anyone sees the downside, please post more information.
Was the "cheapest stock on the market" ....Since my last post,...
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