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Dividend expectations high for debt-blaster Fortescue
Fortescue Metals is expected to post a strong first-half result on Wednesday, according to the Australian Financial Review.
All eyes will be on shareholder returns now that its gearing is down to 30% and analysts are tipping a higher interim dividend with pre-tax earnings doubling on the back of stronger commodity prices. Macquarie analysts have upped their full-year dividend forecast from 23c to 44c
Seven Group upgrades full-year earnings outlook on improved WesTrac outlook
Seven Group chief executive Ryan Stokes says he expects mining companies to begin splashing cash on new heavy equipment in 2018 after a sustained lull in new product sales for Seven's WesTrac business, according to the Australian Financial Review.
WesTrac, a Caterpillar heavy equipment franchise, provides a unique insight into the health of Australia's mining industry, which Stokes said appears to have pushed through the bottom of its recent downturn.
Palmers nephew a no show in court
Clive Palmer's nephew has blamed a medical condition for not returning from overseas for a court grilling about the collapse of Queensland Nickel, according to the Sydney Morning Herald.
Lawyers for Queensland Nickel's liquidators are now considering whether to seek an arrest warrant for Clive Mensink, who has failed to comply with two orders requiring him to front the Federal Court.
