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3.33%

29.0¢ avjennings limited

A smidgeon under what i was expecting/predicting but still very...

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Smugtown

1,621 Posts.

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19/08/16

01:03

Post #: 18553885
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Originally posted by Smugtown ↑

Consider this for a moment. AVJ have promised to pay out 40-50% NPAT.

In F15 they paid out dividends of 4c (1c & 3c) based on NPAT of $34.4m (H1 $11.87m & H2 $22M). Each 1c of dividend payment represents $3.844m in value. Therefore they paid out $15.37m / $34.4m of NPAT = approx 45% payout of dividends.

In F16 H1 NPAT was $16.5m. If profit is weighed toward H2 again - and AVJ have indicated this is so, let's assume it is similar to FY15. Therefore we would expect H2 profit of approx $31m. Full FY NPAT of approx $47.5m.

So, 40-50% of $47.5m = $19m-$23.75m.
With each 1c dividend representing value of $3.844m, we would expect full year dividend payment between 4.94c & 6.17c.

We had an interim dividend of 1.5c, therefore the full year (fully franked) dividend should be between 3.44c and 4.67c. Based on last years 45% of NPAT payout, the final dividend would be close to 4c.

4c / share price of 59c = 6.8% return (FF) on final dividend alone! That's almost 10% with the franking credit for a half year.

BUY on all metrics.

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A smidgeon under what i was expecting/predicting but still very strong results.

And no surprises - all of the information was already out there - and we were trading at just 52c a couple of months ago

AVJ Price at posting: 71.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 29.0¢		Change -0.010(3.33%)		Mkt cap ! $161.8M

Open	High	Low	Value	Volume
29.0¢	29.0¢	29.0¢	$3.041K	10.48K

Buyers (Bids)

No.	Vol.	Price($)
4	42712	28.5¢

Sellers (Offers)

Price($)	Vol.	No.
30.0¢	7549	2

View Market Depth

No.	Vol.	Price($)
4	42712	0.285
1	18100	0.275
2	253000	0.270
2	3709	0.260
2	14003	0.250

Price($)	Vol.	No.
0.300	7549	2
0.305	22166	2
0.310	15834	4
0.320	55000	2
0.330	18278	3

Last trade - 12.19pm 12/07/2024 (20 minute delay)

AVJ (ASX) Chart