In the last ~10years the share price has gone nowhere, so if...

In the last ~10years the share price has gone nowhere, so if you're not someone who actively trades the ups and downs then the only return has been dividends. Divs have been about 4-4.5%, so slightly above inflation but not by much. Earnings have been flat despite the fact that CGF pays out less than 50% as divs, so those 10years worth of retained earnings (roughly $600m) have basically just been torched as they're not evident in either the share price or in grown earnings.

As madamswer said, CGF need to maintain solid results over several consecutive halves. They need to show they're achieving some growth with the earnings they're retaining, because otherwise they're basically just a term deposit with bad volatility.