This is not good accounting and certainly not good company dividend policy, but, it is factual if my ability to read a financial document is reasonable.
At end last quarter BCI had "Cash of A$197M after debt repayments of US$37M (including US$17M ahead of schedule)"
There are M124 issued shares so a dividend of 30 cents would take $M37.2. (That figure again.....see above!! That still leaves $M160 in kitty. Or $1.29/share!
Mind blowing! Have to increase the dividend, pay a special dividend (cash payout) or put the money to use better than interest.
How much will the payout be? We will know later this month.
dividend, page-7
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