Operationally, the report was OK - little ups and downs either way.
The 20-40% payout of NPAT is horrific.
NPAT will be significantly less than FCF over the next ~5 years, so they will really be paying out closer to 15-30% of FCF.
This leaves 70-85% of the cashflow for management & board to YOLO and overpay for other assets because Julian Fowles wants a bigger remuneration package and Petter Botton wants to re-create Santos.
Operationally, the report was OK - little ups and downs either...
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$1.74 |
Change
-0.055(3.06%) |
Mkt cap ! $1.394B | |||
| Open | High | Low | Value | Volume |
| $1.88 | $1.90 | $1.74 | $19.55M | 10.90M |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 52784 | $1.74 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.75 | 5000 | 1 |
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