Midac says ROE still tops its capital cost, even as PBR slips
Midac says its cost of equity sits around 7% to 9%, while ROE for the year to March 2026 was 17.3%, down from 20.3% but still above both that range and its 15% target. PBR fell to 2.95 at year-end from 3.72 a year earlier, so management's answer is more growth investment, a higher dividend and heavier investor outreach, along with the warning that new facilities could pull ROE lower over time.