Ann: Dividend Declaration, page-722

In that case,

1. you need to remove 51% of the South Africa operation. The quarterly report includes 100% of the South Africa performance. misleading reporting in my opinion.
2. I would also suggest removing all of South Africa as the dividend is paid from an Australian company. For the profits/cash of South Africa operations to be available for a dividend, a dividend needs to be paid out of South Africa to Australia, not always as easy as it sounds. The cash held in South Africa is not TER and TER does not have control of that cash, the South Africa operation will be treated as an Associate from 1 July 2022.
3. Personally I would only look at the Australian EBTIDA of $112 million, less depreciation of approx $3m a quarter then tax of 30% leaves you around $76 million of NPAT (or profits available for dividend). $76 million / 800 million shares @ 100% payout would give you $0.105 / share.
4. It also comes down to how much cash they have available. As at 31 Dec 2022 they had $96 million available in Australia. I don't see them paying out 100% of their cash as a dividend, but if they did it would $0.12 (96 / 800).