It's not the first year they made a price, they made a profit in FY18 although not a big one.
3c is my estimate based on an estimated 9.9c EPS, not a very high payout & just over 50% of the year end cash balance.
Also all the profit was made in H2 so you would expect the whole of FY21 to be at least at that level even if sales fall post COVID-19 (assuming that actually is in FY21!).
I think 3c is a fair level to payout IMO but could well be lower.
I don't have the benefit of the FY21 projected sales that the CEO does.
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