60% payout ratio going forward

This new 60% payout ratio was what caught my attention. This tells me DSB manageemnt have faith in their earnings having bottomed and hopefully on the way up.

I mean how many mining services companies even pay good divi's - only a handful.

FY16 EPS came in at 3.40 cps. 60% payout ratio is 2.04c on a yield of 7.5% Fully Franked shares should be 27.2c.

Now that is based on FY17 being the same as FY16. However as their recent preso stated management are confident of further growth in eps in FY17.

So let's move FY17 eps to a conservative 4c. 60% payout ratio is 2.4c and on a yield of 7.5% Fully Franked, shares should be 32c.

Let the games begin