I think a 26c final dividend is the top end of the possible outcome. This is because we had an increase in the interim dividend from 10c to 15c, so if the final is 26c, the total dividend for the year would be 41c as against 36c for last year - a great result compared with any or our peers. However, last year the payout ratio was very high, based on I presume that Paul could see future earnings being significantly more. The current year will see a reurn to more typical payout ratios of 70 to 80%??
Still I am very pleased to have PAC in the portfolio as it will be one of the best performers this reporting season. There has been some significant buying from well informed fund managers over the last 12 months.
Looking forward to good news tomorrow
Cheers Westwind
PAC Price at posting:
$8.90 Sentiment: Hold Disclosure: Held
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