Hi Team,
with IO for 58% reaching $98, and a pay out ratio of between 50-80%, and the assumption that IO price will average $90 a ton for the next 12 months.
Would it be possible that FMG would be making the below profit and then look at paying significant dividends, as calculated below?
170 MT x $60 profit - ( based on pulling it out of the ground including royalties $30.00) = $10.2 billion USD or $14.5billion AUD.
LESS 30% TAX - $7billion USD or $10.15billion AUD
50% pay out ratio $5billion AUD / 3.3billion shares = $1.51 per share for the 12 months
80% pay out ratio $8.1 billion AUD / 3.3 billion shares = $2.46 per share for the next 12 months
probably missing something, appreciate someone with more understanding to help gain a more accurate account.
My opinion is that FMG will pay between $.50 and $.60 in August.
kind regards
MJAK
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