If you paid 410c ($4.10) for a share then a 1% dividend would be 4.1c wouldn't it?
If that is correct then 8.2c would equal a 2% dividend.
If I'm still on the right track then 16.4c would equate to a 4% dividend.
Add another 4.1c to that brings you to 20.5c, a 5% dividend.
The extra half a cent per annum dividend we are getting (21c) can't possibly bump the yield up much from that 5% figure.
Based on the above exercise the people who bought the IPO are getting a very small amount above 5% yield.
I agree on one thing though, at the current price of $3.29 the yield isn't bad at all for a supposed 'growth' stock, a tad under 6.5%. You'd think the share price should be underpinned by this to some extent, though in a panicky market logic goes out the window of course.
MYR Price at posting:
$3.29 Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)