From my previous note, in order to pay 5cent dividend TER needs 40m in cash.
According to their last update, Cash at bank is $67m. This excludes the Restricted cash portion. Although I'm not convinced restricted cash is the same as unrestricted.
In the notes, "Cash at Bank" is split between 46m held locally and 26m held in SA.
So they can easily pay the 5cents div with the $40m on hand. However, TER can still pay 7.5cents div if their choose. They just will be using cash held elsewhere. If they do pay 7.5cents, would likely be a 5cents plus a special 2.5c. My baseline is 5cents.
TER - General Discussion / Market Updates, page-55
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