Originally Posted by
Roger
I listened in on the call. Free cash flow really accelerates after FY18. 20 cps sustainable fully imputed dividend going forward was strongly inferred given strong free cash flow, strength of liquidity and financial strength. Based on a SP of 1.90 (2.25 - 0.35 forthcoming divvy), this gives a gross yield of 14.6% on the theoretical ex divvy price. More than compensates me for the risk of investing in this well managed company right across the cycle. Will hold long term.