Yearly dividend of 17.5 cents .
Yield of 5.65% base on current price of $3.10.
Chart wise, looks bearish!
Immediate support is at $3.08. Next support is at $3.05 then $3.02.
The major support is at $3.00 region.
At $3.02, the yield would be 5.8% looks very attractive to me and is almost on par with most of the Reits counter that is yielding a yield of 5-7%.
I would be looking at the golden opportunity to accumulate if price further weaken to $3.05 and below.
Not a call to buy or sell.
Please do your own due diligence!
The management has made announcement in FY2017 that they would continue to payout 17.5 cents of dividend for 2 financial years.
The dividend of 17.5 cents for next 2 financial years is here.
Let us take a look at their past years financial numbers as per below tables:
Average Underlying Net Profit is about $3.7b.
Assuming future underlying Net profit may go lower, may be about $3.4-$3.5b.
0.75 X $3.45b = 2.5875 / 16.322(no of share) = 15.85 cents.
No of shares = 16.322 b
Payout ratio 75%
If Payout ration 60% , then dividend per share is about 12.7 cents.
Their free cash flow of about $3.6b I think has no problem to continue in paying out the dividend.
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