broker opinion, page-24

I don't have an issue dividend payment rise but as long as it is fluid and linked to profits. I prefer debt reduction in general as the quicker we get the debt down, the greater the war chest for acquisition or project development. We know management prefers to remain within the 40 percent. We also know that fmg are looking to diversify. If it is down to 10-15 percent, this would give fmg great flexibility going forward. The market will also recognise this as most businesses like to have a debt load of 30 percent as it means they are using extra funds to progress notwithstanding the interest payment.