Shorters... Good luck!, page-720

Forget being cashed up guys. Let Gxy use money wisely.
When a company has no money, it borrows money to make money.
When a company has some money, it borrows to continue to make even more money.
When a company has a lot of money, it continues to borrow money to make much more money.
ITs just the nature of doing business! Balance the use of equity and debt. With the right settings, it achieves wonders. It pleases lenders, and pleases investors. Assets = liability + capital. It simply means everything a company owns is split between lenders and shareholders. Interest is paid to lenders, and dividends are paid to shareholders. All the 70 year olds who invested in Gxy 10 years ago are now 80 years old, and the 80 yo ones are now 90 years old, many died without getting any cents in form of dividend. Don’t wait till all these folks die without seeing a cent, not all investors are 18 years old that keep harping we will all be rich if we keep all the money to develop SDV and jb. And don’t even mention capital appreciation as this is not a speculative company anymore. Capital appreciation is extra reward for being a shareholder, but the routine measure of return is dividend yield. Not sure why I’m saying this, pretty basic. I already cited bhp (48% debt to equity ratio), Rio (35%), Apple (had LT debts of $100b when it had money as much as $250b), and now Microsoft with $72b debts. https://www.gurufocus.com/term/Long...Debt--Capital-Lease-Obligation/Microsoft-Corp
The above are smart companies. And just scroll the biggest companies in any stock exchange and down to a modest Vietnamese restaurant in your suburb serving you a yummy beef noodle winter soup, chances are it also has debts.

Posco money I think will be distributed partly as a special dividend or return of capital. Whether it happens or not is another matter. But such a move is not crap. It’s smart.

Cheers