tracking?, page-15

Rex is inflating the numbers to put some political pressure on these issues. At the end of the day, it has monopoly over the routes and can raise prices to a certain extent before over modes of transport becoming more compelling.

Even if we go back to 2010 net profits and dividends, a 7 cents dividend implies a 6.8% yield (fully franked)/ 9.8% (unfranked) at today's prices. With over $40 mil in cash, it's quite a compelling buy at these levels IMO.