i didnt know that most of the profit was paid outin...

i didnt know that most of the profit was paid out

in dividends,had no dividends been paid then the current

sp of $1.20 to $1.40 is about 1 year ahead of itself

which isnt too bad however with equity earning 30% it is hurting the future growth to pay it out.

so.....pay dividends on a roe of 30% means it is fully
priced around its IV

keep the npat in the business & keep earning 25% plus then
$1.20 is ok.


as for roger montgomery he has sound principles for investing such as companies that actually make money year on year.