growth + dividend stock, page-20

Hi Mike

Last results were fairly flat, not bad just kind of static. Three years ago they had a lot of debt but having been steadinly paying it off and is down to quite low levels now so very little risk here.

Their income and profits are very sustainable so little chance of dividends dropping (unless we have GFC2), in fact I expect gradual increase in dividends. Buy now and in 1 or 2 years time yield could be 13 - 15%