Forecasted first half dividend for BOQ, page-3

Patrick Allaway has said in the past that the dividend pay out will be between 60% to 75% of cash earnings

In the Australian on Tuesday Goldman Sachs predicted first half cash earnings will fall by 40% to $152m. The consensus forecast in the market is for cash earnings to hit $164m.

Based on the $152m cash earnings the dividend is approximately at:

60% is 13.8c

67.5% is 15.6c

75% is 17.3c

Based on the $164m cash earnings the dividend is approximately at:

60% is 14.9c

67.5% is 16.8c

75% is 18.7c

The reason I have used 67.5% as it is the percentage actually used for pay out in the past.

I hold the shares and hope the analysts are wrong and that there is a slightly upside surprise so the 20c dividend can still be paid. Though realise it is what it is and I am going to stick with them.