Out of interest, what could stop the expected 80-140c dividend?
The payout ratio is baked into the company constitution, but also if the coal price stabilises back near $100-150 in the coming year I’d imagine that such a divvi won’t be payable in the future, which would be undesirable moving forward.
So my concern is they bake up a scenario to allow them to pay a divvi under expectation and come up with an excuse to allow them to preserve cash in the bank. -If this happens and the coal price drops to those levels I think we could see a sizeable rerate down from current prices.
YAL valuation and potential final dividend, page-103
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