if seven willing to spend (even borrow )30 million ( let net debts reach 276 millions)pay 2C a share, will give a solid support for 40C share price, 5 percent return of capital, like nine 11c dividend over 2 dollars share price. seven not willing to do it, for 6 years there is no real return for long term investors( via dividend), no share price appreciation for short term investors or traders. make its share very unattractive, r***ish CEO still not feel or share same pain and disappointment of shareholder,at least to me he is not face or willing to face that issue, still talking too much about future perspective. for long term investors future in his mouth is too long, it's already 6 years. may need another 5, 6 years . in fact, I think seven should able to spend 30million for dividends.on the contrast nine spend 150 millions on buybacks, 175 millions for dividends, at cost of worsen balance sheet of increase 150 millions debts (but solid share price),I really doubt they able to do it for another year, I think they have to cut the dividend or buy much less share back for FY2024, let's find out. another point nine said their cash conversion rate is 93%, seven may only have 9.3% free cash conversion rate , this is huge difference, leave seven no hard cash to pay dividend or/ and buyback aggressively, that is main reason behind gap in valuation for 2 companies I believe, btw do you have any idea why cash conversion rate is so different by 2 companies,lev?
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