I can't see that there's any way of maintaining dividends at current level which is 50c a year. They have over 1B shares so 50c is over $500M dividend payout which is effectively 100% of NPAT.
NPAT is likely to be less than $100M this HY so even if they pay out 100% again (which they suggest they intend to do) it's still going to be less than 10c compared to 20c last HY. Personally I am forecasting about 7c div and hoping that a coal price recovery in 2H will pull the full year div up to 15-20c.
This stock at these prices is a coal price recovery play. If the NEWC price heads back to US$100 in 2H then WHC will head back to $5. If NEWC drops much more from here it will head sub-$2 IMO. I don't try to forecast the short term movements but I think over the mid term there is more upside risk than downside, particularly as OPEC seem determined to keep the Brent oil price above $60, which supports thermal coal outlook.
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Last
$7.77 |
Change
-0.030(0.38%) |
Mkt cap ! $6.500B |
Open | High | Low | Value | Volume |
$7.70 | $7.84 | $7.69 | $37.59M | 4.840M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 5512 | $7.74 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.78 | 2928 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 5512 | 7.740 |
1 | 5000 | 7.730 |
3 | 24089 | 7.720 |
8 | 71183 | 7.710 |
9 | 38237 | 7.700 |
Price($) | Vol. | No. |
---|---|---|
7.780 | 2928 | 2 |
7.790 | 21089 | 2 |
7.800 | 20429 | 3 |
7.810 | 23089 | 2 |
7.820 | 6000 | 3 |
Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
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WHC (ASX) Chart |