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5.6¢ the pas group limited

After an ordinary first half this has turned around. Final...

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grandcaruso

2,317 Posts.

28/08/15

08:57

Post #: 15891094
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Originally posted by grandcaruso ↑

That's my estimate . Franking details still to come. Company advised EBITDA of $20M to $21.5M ( full year ) and a payout ratio of 70 to 80% of Net Profit. Taking the middle line I'm assuming :-

EBITDA $20.5M
Less finance costs $ 0.5M ( 1st half only debt paid out now )
& Depreciation $ 6.0M
NPBT $14.0M
NPAT $ 9.8M

Based on 70% payout you get 5c dividend and a 10% yield based on current share price.
Based on 80% payout you get 5.7c dividend and a 11% yield ( as per above ).

Most of this is based on a much improved 2nd half so if this trend continues then next year profit improves and subsequently yield gets even better. I've been buying sub 50 on this basis. Expecting dividend of 2.25c to 2.75c announced in August. Of course, all IMO.

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After an ordinary first half this has turned around. Final dividend of 3.1c which if extrapolated for a full year is a yield of 12%. Pretty much what I thought. Even if it's just what they paid last FY it's 5c ( total ) and a yield of 9.5%. More to come.

PGR Price at posting: 52.5¢ Sentiment: Buy Disclosure: Held
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