nice dividend, page-6

Of course I am speculating - that's exactly what I stated in my last post and I have no other info.

All I was pointing out is that the maiden div of 12c was declared on eps in 2007 year of 46c and NPAT of $88m. As it was the maiden div thetre is no div payout history trend nor definitive announcement of a payout ratio yet from the coy.

Half year 07/08 is $24m NPAT but would have around 38m if not for hedge loss. if second half is about the same then 07/08 year would be about $65m NPAT and 08/09 would be around $90m with no changes in key fundamentals of forex, price and output.

IF (and yes this is speculating) they decided on a 55% payout ratio and IF they indeed make $65m NPAT that they are assuming from their announcement then the full year div for 07/08 would be about 19c, ergo the 12c last year final would be maintained.

Do your calcs and bang in your own assumptions.