MyState Financial said it expects to report a net profit in the year to June 2010 of between $14.7 million and $16.3 million, the financier told its annual meeting in Launceston yesterday.This compares with a profit in the first half of $8.2 million, though that was inflated by one-off gains arising from the merger of the former credit union with Tasmanian Perpetual Trustees and the sale of the latter's half share in Tasmanian Banking Services back to Bendigo and Adelaide Bank.MyState's managing director, John Gilbert, told the AGM the board adopted a dividend policy of paying out between 70 per cent and 90 per cent of net profit.The first half dividend, due to be paid next week, of 10 cents a share represents a payout ratio of 72 per cent.