As an AFJ holder nih123, you can imagine my outrage at your...

As an AFJ holder nih123, you can imagine my outrage at your comment!!!!

Exclamation points aside though, TNK does look good, and thanks for putting it on my radar. The only point I would make, is that based on Market Capitalisation, it will be difficult for TNK to do the magic trick of the other two by drawing down millions and millions and millions in their bank facilities. Just makes me think growth like the other two may not be electric (but with low shares on issue, the growth could be bloody good!)

I also think that AFJ will increase their dividend pay shortly, but their NPAT is lower this year due to acquisitions and the efficiences in the business they are installing. On the subject of dividends too, I note that AFJ only intend to pay 60% out, whereas TNK will pay out 65%. I'm not overly a fan of big dividends, and I'd prefer that 5% difference to pay down debt (not that I am able to say what it's for, if it's for executive salaries, bugger 'em, up the divvy!!). Will certainly be an interesting side by side analysis in 12 months time of all three.

Since TNK say in their prospectus the will be chasing acquisitions, I think it would only be a matter of time before a capital raising. I think (pun intended) I will keep her on my watch list, and maybe use volatility in the share price during a CR to pick up a few (well, assuming I've got cash, I seem to be a bit short this week).