Sorry for being a bit rude there. I just don't think it is logical for management to be concerning themselves with consistently sized dividends each half year.
As plenty have pointed out the last dividend probably would have been bigger if the rules around off market buy backs had not been changed afterwards.
So i think this dividend should be decided with close to zero regard on how big the next dividend will be. It should be tailored only to current circumstances not orthodoxy
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Sorry for being a bit rude there. I just don't think it is...
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