Looks like they have pretty much maintained their pay out ratio for the dividend so no real extra cash there for the buy back unfortunately, I'm definitely glad they did not push the pay out ratio up trying to maintain the dividend amount though.
I still feel at this price the buy back is a much better use of any extra cash than dividends.
Would have been nice if the shares for the DRP were not new issues too, they have the cash set aside for the dividend so if that does not need to be paid out it should be reasonably self funding to buy the DRP shares on market.
Ann: 1H24 Results Announcement, page-41
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