-Yeah, except their management always says that they don't...

-Yeah, except their management always says that they don't invest in companies that don't look after shareholders in sharing the profits. And how does one do that? Through divs. No div would be fair enough if they were a growth company and that the share price was growing to reflect that. But are they a growth company? Not really in any exciting growth industries? Meanwhile directors get paid their pretty pennies and shareholders get paid zip.
-However due to their recent listing, I will give them some slack for no div, but just for now, not after 5 years of listing -unless they become a growth company.