SMRT

[KopiKat]

I am expecting a dividend cut......

Dividend cut started from 2H (Mar12) and will continue to slide due to lower EPS,

1H (Sep12) : 1.5ct
2H (Mar12) : 5.7ct
1H (Sep11) : 1.75ct
2H (Mar11) : 6.75ct
1H (Sep10) : 1.75ct
2H (Mar10) : 6.75ct
1H (Sep09) : 1.75ct
2H (Mar09) : 6ct
1H (Sep08) : 1.75ct

With EPS = 6.3ct (9M) & Profit Guidance given for Q4 (ie loss), even if we assume EPS = 0ct for Q4, the balance EPS available (assuming 100% payout) for distribution = 6.3ct - 1.5ct = 4.8ct.

This is already lower than last year's 5.7ct. So, a Q4 loss and less than 100% payout can only mean an even bigger cut.

Yes, interesting to see the outcome, and Mr Market reaction to it...

Woah... big drop in Final Dividend to 1ct...

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