Cash on hand $2,699
Less
(Dividend to be paid $0.7x 1320m shares = $924m)
Current Tax Liab $1,542
Remaining cash on hand $233m
Strip the above out of current assets and current liabilities:
Adjusted Current Assets: $3,810 - $2,699+ $233= $1,344
Adjusted Current Liabilities:$2532- $1,542= $990
Utilising these adjustments adjusted CA-CL = $354
So company is being conservative and making sure its balance sheet and liquidity is very strong.
Conclusion: They made the right decision re quantum of dividend to be paid.
And because their balance sheet is a fortress, their September interim dividend will be good.
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