Ann: Appendix 4D and Half Year Financial Report, page-71

bb are not returns to shareholders as they rely on the shareholders being able to sell for a higher price or get slightly amplified dividend returns as a result of the bb.

If the company went under, the bb would represent no return at all whereas a dividend is the only real return shareholders can get that can't be impacted by other risks later on.

So there's a reason why nobody is buying the bb nonsense. If it's paid for with cash on the balance sheet, then you just swap cash which is king for shares which have a highly variable value...

over time I think everyone will view bb as value destructive. for example, most of the buybacks of big tech stocks prior to the 70-90% drops they recently had...

market will weigh the results and the bb and dividend approach over coming days.