2022 General News etc, page-394

The dividend should be more generous for FY23 than it was in FY22, because: staff shortage exists; price increases seem to be acceptable to the mining sector because of demand for product from preferred countries to lessen sourcing supply from Russia and China; and hence NWH should have a lower need for boosting its potential source of funds (debt headroom and cash). A war chest for o[portunistic investing is desireable, but I do not think Jules has an apetite for anything too adventurous, and small bolt-ons, or new organic initiative, should have modest requirements for funding.

I'll take a punt at 7c dividend for H1.