Ann: Annual Report to shareholders, page-21

They must be very confident. If the half year divvy is also of the order of the final divvy (note that it was flagged at 14c, but they went for 16c) then 32c p.a. will likely give us a $4+ medium term target.
That's a lot of money to shell out nonetheless. The Astivita purchase swelled the number of Tamawood shares...say, $10m p.a. paid out on 35m shares. Profit was around $2m for Q1. Maybe they can see the cashflow increasing strongly now, in spite of their 'one swallow does not a summer make' warning in their recent presentation. Conditions have changed for the better IMO.