Hi W. My thought is that it depends on how the funds from the DRP were applied. If we assume that they were, essentially, excess funds then a (significant) proportion of such could have been used to retire debt. Such would have the fortunate effect of negating any ultimate dilution in DPS. I have no idea what the numbers were and how such funds were applied but retiring debt with equity isn't a bad idea. To me, no news has been good news. Anyway, any previous modest good news was totally ignored by the market. Cheers Keith
Dividend Concern?, page-4
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