Err, no-one tracking this one?
At this price, it's quite cheap on a relative and absolute basis. Generates cash on very minimal capex, and from FY14 forward, management have decided to expense all software dev rather than capitalise it.
Chairman and MD have also bought on market.
Dividend payout ratio of 60-70% of NPATA. On forecast (which they're ahead of) that's:
- 9.8cps FF (see prospectus for statement regarding maximum allowed franking amount)
- 7.7% yield approx.
- 10.9% gross yield approx.
(used a price of $1.28)
Few downsides I could find were:
- Regulatory risk (obvious one)
- The $4.4m payment made to management for the IPO, accompanying the $900k payment to the Chairman.
- Thinly traded
siq results tomorrow, page-2
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$7.77 |
Change
-0.020(0.26%) |
Mkt cap ! $1.115B | |||
| Open | High | Low | Value | Volume |
| $7.79 | $7.85 | $7.71 | $3.843M | 494.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3175 | $7.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.78 | 1496 | 1 |
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