Ann: Full Year Guidance , page-13

pussinboots,

I really appreciate this explanation... a few months ago I had flagged this one to watch, but after today's results I still couldn't understand the debt - cash flow model.

Why don't they pay down the debt instead of paying dividends... Is there a reason why they couldn't keep the cash in the business?

I would have thought that the interest on $50m would be approximately 3m or 4m... add that dividend payment of approx 5m per year... and they could surely use that to help grow the business as well.

I will endeavour to get my head around this... but again... Thanks for the explanation.