Research Coverage Initiated - MST Access, page-56

If FEX is making 10million profit a month at the moment. I suspect it is a little lower than that.

But assuming it is. Then lets say FY profit comes in around 60 million after tax (some month IO prices were much lower)They will more likely be following their commitment in paying 50% of profits to share holders. So that would be in the range of 25 to 35 million. So it is far more likely the dividend will be around 4 cents per share. I can see it being either side of that. I am expecting up to 4.5 cents per share dividend or as low as 3.5 cents per share.