Friend pointed out dividend usually 50-60% of net earnings. So gross income is $630M (90k tons @ $7000 margin), 50% of this goes to G&A and taxes so left with $315M and 50% of that would be allocated to dividend usually.

So, $157M over 60M shares yields $2.65 as a dividend. At a 7% yield, this would work out to $40 per share. With time, I would assume that dividend could be increased to 60% of earnings as some companies do.

There is no doubt that if this company delivers tonnage, we should be an easy 5-10 bagger from $2.00 in my opinion!