We profiled Macquarie International Infrastructure Fund (MIIF) a while ago as an infrastructure based trust that provides a 8%-11% yield at current price of $0.49 to $0.50 cents. [Commentary here and here]
We are anticipating the quarter results since they have increased the stake in Taiwan Broadband Communications and we would like to see whether they can sustain their dividend yield or the dividend yield potential based on this increased stake.
Results of Q3 and 9 Mth 2011 are out [slides and report here]
Recap the premise we highlighted here in the first commentary:
...
- The dividend guidance from MIIF is $0.055. That is 11.2% yield. To pay out that, MIIF needs 1297 mil outstanding shares x $0.055 = 71 mil.
- Taiwan Broadcasting Corp (TBC) will contribute SGD 47 mil – SGD 49 mil per year. This is from its 47% share in TBC. ...
