Looking for a reason why this was dumped by 3% today - did they not re-iterate the FY17 outlook in the Annual Report today that was presented at the time of release of the FY16 results?
The top 20 shareholders at 2Sep16 have 94.6% of the issued shares so only 47mil shares of the 871.4mil issued are held outside the Top20 holders. Only 72 holders have more than 100k and I would guess they hold some 97% of the shares.
Hopefully they'll be paying a 9c fully franked dividend out of FY17 profits in Apr17(4.5c) & Oct17(4.5c).
So potentially yielding 9.28% plus benefit of franking credit of 3.97%(3.85c) for SMSF's or 13.25% total yield on the current price of 97c.
Also hopefully they'll only be two specific items affecting the P&L in FY17, namely the Warner Bros program charge of $86mil that should be more than offset by profit on sale of the Willoughby site that settles this month.
And always a chance that they will be gobbled up in the media consolidation process that will start after the laws are changed later this year.
NEC Price at posting:
97.0¢ Sentiment: Buy Disclosure: Held