Hi BlueSky,I recently ran some scenarios to explore potential...

Hi BlueSky,

I recently ran some scenarios to explore potential dividend rates and subsequent share price re-rate.

Any was you cut it, there is significant upside with MML.

If income starts to flow, capital gain will surely follow. The market will no longer ignore MML once a dividend is declared. 2021 is going to be a great year and I will continue to buy as many shares as possible before the re-rate occurs.

Base Case

NPAT - $80 000 000 AUD

EPS - $0.38

Payout Ratio 40%

Dividend - $0.15

Market assumed yield of 5% = Share Price $3.00

PER 7.9

Pessimistic case

NPAT - $60 000 000 AUD

EPS - $0.29

Payout Ratio 30%

Dividend - $0.085

Market assumed yield of 5% = Share Price $1.70

PER 5.9

Optimistic case

NPAT - $100 000 000 AUD

EPS - $0.48

Payout Ratio 50%

Dividend - $0.24

Market assumed yield of 5% = Share Price $4.80

PER 10