The update says the 3.3c operating and interest expense includes performance fee. I would have thought there would be no performance fee for the year as the hurdle rate is 8% p.a. which was not achieved over the last 12 months. They take 17.5% above the hurdle.
In May last year our company received $118M for the sale of Instaclustr. On 1/6/22 management announced a div policy to be 4% fully franked on NTA annually. Further comments on the capital management policy were made on the monthly update on 8/6/22.
Last year a 2% bonus franked dividend was paid. Hopefuly we get this again and also start buy backs this year.
BTI Price at posting:
$1.27 Sentiment: None Disclosure: Held
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