WHC 2.19% $8.25 whitehaven coal limited

Ann: Appendix 4D and Half Year Financial Report, page-213

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    TSR includes dividends (assumed to be reinvested in the underlying stock) as well as the share price - so dividends payments have no direct impact on the TSR metric or KPI outcome (other than if people argue the dividend payment or lack there of has a disproportionate impact on the share price).

    Some have argued a buy-back artificially influences share price, reality is the share price is influenced by a huge range of factors including capital management, in the end share price incentives exist to align management to investors.

    In terms of executive trading windows these typically open after the results are in the market as the market is fully informed. Key management personnel will still need approval to trade.

 
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