My estimates for future dividends 2015= 9 x 5% = 0.45 cents/share 2016= 12,5 x 6% = 0.75 cents/share 2017= 15,5 x 8% = 1.24 $/share 2018= 19.5 x 10% = 1.95 $/share There will probably be another extra cash or share dividend for the SJAP spinoff around year 2017-2018. My expectations of the SP, end of 2015: 22$ 2016: 37$ 2017: 65$ 2018: 100$ P/E of 5, year 2018 shouldn't be that impossible or what do you say RD? :)