https://www.stuff.co.nz/business/ind...s-getting-less
Good article.
Sky soon to have $155M - $175M cash available ($35M cash in bank + $70 to $80M FCF + $50M - $60M property sale).
Even if they are conservative and want to 'hang on' to $50M, they will still have around $100M to $120M free to distribute to shareholders.
$50M buyback or tax free capital return and then $50-$70M for a divvy. Even a 6% yield (2%+ more than NZME...) of the lower end divvy ($50M) would be a market cap of $800M ($4.57/share. If s/o have been reduced to 155M after a buyback then that would be $5.16/share.)
And if the market is still 'not quite convinced' and demand a divvy yield double what we have observed with NZME - then a $50M divvy would bring the market cap to $625M ($3.57/share. If s/o have been reduced to 155M after a buyback then that would be $4.03/share.)
Today has been a good day.