News: CDC China Dairy Corp total revenues US$71.6 mln for 9 months ended 31 March, page-21

The divident relates to the 9 months. That means 3 months is not accounted for.

In reality your dividend is worth 3.75% p.a.

Total CDI's is approx 740million x 0.0057c = $4.2mil AUD paid in dividends.. Yet their earnings was 20mil USD (9months) which ends up being 25mil p.a. (annualized) Convert the 25mil USD into Aussie dollars. = 25 x 1.39 = 34.75mil AUD

Total Dividend Payout Ratio: 4.2mil/34.75mil = 12%.

34.75mil earnings p.a. / 172mil market cap = 20% p.a.

Either i am missing something... Or this is extremely undervalued...