All I can think is that the short term view is with a 2c div at 50c/share you are only getting a 4% return. maybe the market is pushing this down because an infrastructure stock should be paying 8-10%?
I look at the numbers and can't see anything close to a debt covenant being triggered. And the total debt is slated to be paid off in 10 years.
If they were paying divs out at closer to the long term target of 35% of EBITA rather than quarantining it to pay down debt, that would be close to an 8% div return now? In the meantime should I expect to see this go to like 25c/share to get an 8% return?
IFN Price at posting:
50.0¢ Sentiment: None Disclosure: Not Held
