Q: Thoughts on the quarter. What is the new forward PE and how does that compare to the historical PE range?
Also, they increased the dividend for 10th consecutive year. What is the dividend growth rate over that time frame?
Thanks Rob
Also, they increased the dividend for 10th consecutive year. What is the dividend growth rate over that time frame?
Thanks Rob
5i Research Answer:
EPS of $4.01 beat estimates of $3.89; revenue of $338M matched estimates. The dividend was raised 22%. Revenue rose 24%. EPS rose 31%. Yearly revenue guidance was raised slightly ($1.35B to $1.45B). Margin guidance was bumped to 39% from 37%. Credit control was excellent: charge offs were 8.8% vs 9.0%. The loan portfolio grew 30%. ROE was 27.6% and guidance was for 'at least 20%'. It was a strong quarter and the dividend bump is a positive sign. P/E is 9X, vs historical averages of 11 to 17 in the last 10 years. Five year dividend growth is 33%. 10 years ago the dividend was 8.5c, now it is $1.17.