I think this is intended to appeal more to the big end of town than retail holders. It's almost as if they've pegged their div payout to a yield based on share price and used the remaining free cash flow to pay down debt. 400m reduction very tidy. I still think around 1.5B is the 'right' amount of debt for this size balance sheet to carry. Not too lazy, not too risky. Good outcome and combined with recent refi terms theyve making big strides forwards to get their balance sheet strong.
I think this is intended to appeal more to the big end of town...
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