much better than expectation, page-8

I suspect that because of the very high payout ratio this stock is held a large number of people looking for its income stream. I suspect that many thought as the interim has been raised the final will be at least the 28.5c of the interim. They have not looked back the company has paid less at the final in 2012. The full year is still marginally up.

Really the market in higher yield stocks seems to be really short term its on a 8% plus yield with franking - what are they going to replace it with thats this quality.

As regard it being at the low end of the update I was expecting that given Brexit its had a destabilizing impact on all stock values and I am sure that the recent rally should have sorted that out...

Whilst I was a tad disappointed that they didnt hold last years final of 28c I am happy at this stage with the performance its still a $9.00 plus share in my valuation and I have just added a few more...