Ann: Annual Report to shareholders, page-20

This is just a 'bonus' for me, icing on the cake so to speak.

Reality is we have a housing shortage, not an excess of housing.

Reality is TWD has come through the most difficult period for housing construction, they did it because of being pro-active in their build policy.

As we come out the other side they will do fine.
Even in such difficult times, they can do a dividend of 16c.

When times are easier what will be the dividend???

This was the easiest position for me to create in terms of long term confidence.
Buy straw hats in winter.

TWD has traditionally traded between $3-low $4's:

And in my opinion they will do so again, and the fully franked dividend will range around 25c to 30c just like it has in times gone by before coronavirus