YAL 2.47% $5.40 yancoal australia limited

YAL valuation and potential final dividend, page-3

  1. 44 Posts.
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    One correction needed. YAL's constitution states that the company must pay as interim and/or final dividends at least 50% of NPAT or FCF, whichever is higher. Free cash flow was approximately $2.6bn in H1 (cash flow from operating activities less capex). Conservatively, it should be at least double this for the full year, or $5.2bn. This would mean a minimum final dividend of approximately $2.25bn (50% of $5.2bn - $700m), or $1.70 per share.
 
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