I'm not an accountant but free cash flow is a post-expenses (i.e. interest) calculation is it not?
Companies pay dividends alongside servicing the capital aspect of their debt all the time. Some companies even take on debt to fund buybacks because it is financially viable.
Besides, AVB is owned by its shareholders and if we want a damn dividend they will damn well pay us a damn dividend (or buy back some of my shares).
AVB Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held