On the issue of divident payout, lets put things in perspective.
Compare the EPS and Divident of the past 4 Quarters:
Period EPS cents Divident cent % of EPS
3Q08 4.62 4.5 97%
4Q08 5.11 4.5 88%
1Q09 4.82 4.5 93%
2Q09 4.55 4.5 99%
Total past 4Q 19.10 18.0 94%
From above, Co. div payout is almost 100% of EPS. Unless they sell assets, or there is a windfall in their operational profits, it would be quite a stretch for increased divident payout (special or otherwise). Co. will also be under earning pressure when their loss of the EPL kicks in in 2Q2010. They will also need to allocate funds for the National broadband investment......this may be funded through their cashflow....but, it seems that, unless Co.is able to find fresh source of earnings, it will be a bonus if Co. can maintain their current div payout.
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