pioupiou; I view the tax credits and one off legal settlement as...

pioupiou; I view the tax credits and one off legal settlement as a "normaliser" for the cash balances to offset the tragic lost years.

Anyway, the half yearly out tonight has eps for 1H12 = 0.97c
Say x 2 for full year = 1.94c so the 14c SP which is pretty close to your x 8 PE

Don't forget to look at the operating cashflow; its very positive and increasing & being used to pay down debt and fund that divie.

Also don't forget that dividend paying stocks with good yield and which (thankfully after the bad ole days behind us)now showing stable, quality earnings patterns are rewarded by Mr Market with lower yield / higher PE because the stocks earnings are predictable.

AMA is a resurrected stock that is now well managed - doesn't happen often.