Ann: Appendix 4D and Half Year Financial Report, page-199

Compared to most of the predictions here, 32c was much closer to consensus estimates than nearly every guess that was offered here so yes it was within the ballpark of the 20-50% payout ratio the company always distributes. That is a fact and you only deny reality by asserting otherwise.

On a side note, who exactly depends on a single companies dividend payout (which has no fixed amount other than a range of 20-50%) to derive their income ? That is not a common strategy as opppsed to investing in a basket of equities.

I would suggest that if you were relying on a higher payment and one only from WHC that you really need to reassess your income strategy because its not the companies fault you missed out on 12c as it was a payment well within the (20-50%) payout ratio. You got exactly what theyve stated they would payout.