I went to the Austoft AGM today; here's a few of the high points.
 
As reported in the papers, next year's earnings will be down
about 10% to 15% but are expected to bounce back in 1995/96.
This is not a bad result as this year's results are 83% above
prospectus (93/94). 
 
The final 5.2 cents dividend was approved and the chairman says
they will endeavour to pay "a consistant level of dividends" in
the future. This should mean a full year dividend of 10 cents a 
share or thereabouts, fully franked at 33%. This equates to about
7.5% to 8% franked yield. Dividend payout ratio is about 53%.
 
Austoft is a northern Queensland company which makes cane harvesters,
cane planters, transporters, and a coffee harvester. It has about
60% of the world market in cane harvesters. There are also some
odds and sods such as ditchers made for Telecom.
 
LM

--- Maximus/2 2.01wb