The last sentence is why no dividends will be paid out; it would be poor capital management, and Warren Buffett would surely agree with that!
Post the quarterly webinar, I too have wondered what CTP will do with their excess cash once they sign a new facility agreement (communicated servicing costs of $12m pa). This might upset people, but I don't expect we will see any capital return provided. I believe CTP will look to make acquisitions, additional capex on brownfield development. They have largely communicated this already....the only tax and capital efficient thing to do may be a share buyback.
In terms of capex for Dukes, I'm not even talking about that yet; it's far from a sure thing!
Add to My Watchlist
What is My Watchlist?
