A 33% rise in profit but only a 5.5% rise in Divd, market expected a larger slice of the pie. Pricing was reflecting the hope in yield increase, current SP pricing has yield at 5.5% without the franking credits, not whats calc in the results by the company so even with the 5% SP lift on Friday they didn't crunch the numbers correctly [stated as 9.6% gross]. Whether there will be a rally to ex-divd date ]5 March] will depend on the Bean counters/Franking followers see value here or ..... happy to hold and not alot of comparisons in the sector for yield v SP that I can see. Well rounded for a continued cornerstone in portfolio adding the twice yearly windfalls.
BFG Price at posting:
$1.47 Sentiment: Hold Disclosure: Held
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