I don't think much of his maths capabilities.
Company guidance is 48-50 cps in fully imputed dividends, mid point 49. Grossing 49 up for imputation credits = 49 / 0.72 = 68.06 / 555 = 12.3% Gross yield.
With all the issues the company is facing that I've previously alluded too, that's not enough to get me back on board at this stage and I will need to see the company de-risked in terms of the conclusion to the fuel price enquiry and the jet fuel storage and supply situation at Auckland airport.
I also think the CEO is doing a superb job at shooting the company in its foot with his recent public relations double speak.
I think its clear enough the minnows are very gradually nibbling away at their market share and compounding the long term headwinds is the very slow, (albeit at glacial pace), but inexorable shift to electric vehicles. These things must be factored in when looking at yield.
I leaned my lesson with sunset industries with relying on the yield of NZME and others have learned this very harsh lesson through SKY.