Yep, I sold my long-term holding last year after the special...

Yep, I sold my long-term holding last year after the special dividend at 3.70s, fearing a further market downturn.
I'm back in today.
If Lev and the gang managed to deliver a 12c divvy even during a bad year, I'm happy to open a new position.

Mind you, I don't see any spectacular growth in the short/medium term, but at this level the yield is too tempting.
Especially since there are really not many good value alternatives for income investors that also seek franking in this market, everything is so damn expensive.