That's free cash flow per share that's down, not free cash flow itself.
The payout is 60-70% of free cash flow for a reason, to allow for variations from year to year.
Bear in mind that the issuing of those shares was to buy the Pilbara assets that did not contribute to 12 months of free cash flow.
Pilbara assets were expected to be cashflow accreditive.
I'm not concerned about them cutting the dividend but I do expect another year with a smaller increase in FY25 similar to FY24
Ann: 1H24 Results Release, page-3
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| Open | High | Low | Value | Volume |
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| Price($) | Vol. | No. |
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