CSN is down 30% this year, so I decided to take a look. From the company web site I got historical dividends since 2005:
When CSN distributed JCP I provided to discount 15% IRRF. Disregarding 2005 year that is outside mean, we have an average dividend in the last 5 years of BRL 1.86 billion. This is currently yielding 7.4%, which is very attractive. So I'll take a closer look at CSN.
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2 comments:
Very important: the ROE is good and stable. It has been between 20 and 30% since 2005, I think, except for 4Q09, wich doesn't count.
http://www.valoronline.com.br/online/siderurgia/62/469871/csn-contrata-emprestimo-de-r-22-bilhoes
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