Hi,
I am trying to calculate the annual yield for NZ Oil & Gas for pure practice, but the number I am coming up with does not match the annual yield stated on websites such as in this link:
http://www.asx.com.au/asx/research/company.do#!/NZO
Which states the annual yield as 7.98%
Here is the formula I am using:
Yield = Dividend Per Share / Share Price
The company's latest quartely report stats the annualised dividend per share as $0.03 and the current share price is $0.585
Therefore, Yield = (0.03 x 4) / 0.585 which gives a annual yield of 20%
Is there something I am missing or not factoring into the equation???
Cheers,
Jake.
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