Buy @ $3.78
Jump-Q during pre-open matching…
Results were out last evening. Q4 (Dec) showed very good Revenue & Profits, resulting in closing of the gap with FY12. However, they have reduced Payout Ratio from 90% to 80% and to be reduced to 75% from FY14 onwards. As such, Yield has dropped to <4%.. The forward statement is positive.
Hmm… with the Yield < 4%, PE = 20+ and a non-growth stock, I'm inclined to divest… Altho' the div has been reduced, 12ct (vs 13.8ct) ought to be able to provide some price support till xd date. 😀