CCI Holdings (CHL) has just reported excellent unaudited results for the FY just ended: EBITDA 7.4M, NPAT 3.36M, EPS 2.53c.
To celebrate a record year the company has announced it's first dividend in 4 years. 1cff to be paid in mid Nov, with the record date for the dividend being Nov 1.
What is most startling is the company's cash position. They now have 6.4M in cash, up a whopping 4.8M on the 1.6M they had in the bank a year ago. This cash accumulation comes after they have paid their finance repayments and spent probably the best part of 2M on plant and equipment.
It costs the company 1.35M to pay a 1c dividend, so it's obvious the potential is there for more dividends in the future with a cash pool of 6.4M now in the bank and growing fast.
the company at 32c is trading on a P/E multiple of just 12.6 times last years earnings.......cheap, when you consider their profit rowth last year was 44%, and is tipped to be stronger this FY with coal export volumes to rise more sharply.
This is a bargain CPB are trying to steal with their paltry 31cps takeover offer. If this stock gets taken over they will have to do much better than their first bid.....
CHL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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