Boral reported FY17 results that were inline with market expectations, with underlying EBIT of $460m NPAT of $343m. A final dividend of $0.12 per share (50% franked) was declared, taking the full-year dividend to $0.24, up 7% on FY16 and representing a payout ratio of 82%.
FY18 forward dividend yield, based on $0.26, is 3.5%.
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The investment case for Boral is the strength of Australian infrastructure and US housing, however, the trends within the housing and construction stocks look less than favorable.
