Ann: FY2020 Guidance & Senior Management Update, page-47

Loving this weakness. Doubled my holdings.

By my estimates this business will generate over $6m in NPAT in FY21. The business has already invested heavily in aura, is relatively capital light and has no debt.

So either they keep reinvesting for growth to generate even higher returns or we start to see some form of capital management to reward holders.

Remember David Cronin, the chairman, has over 32m shares so would be very much rewarded with a dividend. And who makes a call on whether to pay a dividend? Well it’s the board of course, and he runs the board. I wouldn’t be surprised to see a dividend being paid for the FY21 year.

Let’s see how it pans out.