will ugl reward shareholders??, page-10

I wrote (see below) to UGL management this morning and have received a reply of thanks.

9 consecutive years.
Congratulations to Richard Leupen and all the UGL team. A fantastic result in a very tough year. The UGL model of consistent recurring revenue matched by careful risk management means regular growth in revenue, earnings and dividends. 9 consecutive years!! Outstanding! Congratulations to the tender team who continue to win contracts at reasonable margins and against fierce competition.
Mike Mennell (shareholder)
PS. To maintain dividend payout ratio at aprox 70% sends 2 unmistakeable messages. firstly, this company retains strong confidence in its ability to keep growing. Secondly, it demonstrates how UGL respects and acknowledges its shareholders. I'm stoked!!