You're obsessed on this point.
What would you rather they do with NPAT?
1.Pay a dividend
2.Buy-back shares
3.Leave it on the balance earning the cash rate
4.Hire staff, purchase IT systems, purchase land, construct a facility
5.Acquire a business
You don't know what the IRR is for point 5. It's like an obsession.
Let it go. He has learned his lesson. If he is restricting himself to one or three...it could well be juicy.
Ann: Appointments of CFO and General Counsel, page-37
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