GRR 0.00% 24.0¢ grange resources limited.

Based on Qrt report release this morning, Full year revenue (Dec...

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    Based on Qrt report release this morning, Full year revenue (Dec 2018) expected to be north of A$350m thus best annual result in the past 6 years.  Record profitability for 12 months (Dec 2018) expected.  Reasonable confidence that annual results will be at least 50% higher than previous best net profit for the past 6 years.  Expecting ROE for FYE18 to be at least 30%.
    The next dividend is a Final not interim.  This should be seen as a record year rather disappointment especially sell price expectations and revised Contract off-take pricing mechanism change.
    Board should be declaring & paying dividend of at least $0.02 IMO based on estimated Franking Credit availability.  Assuming strength of profits and cash flow the tax paid should permit 100% franking of $0.02 divy plus interim FY2019 trading - shipments. A $0.02 Final dividend payment would only equate payout $23.2m in March 2019 which would be less than 20% NPAT payout ratio even after a $0.01 interim dividend paid Sept 2018 . DYOR.
 
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