they are probably paying ~8-10% on the loan facility in relation to the acquisition of GJD
They had negative operating activity cashflow last year
the dividend is not franked so no tax credit, and in fact now shareholders will have to pay marginal tax on this amount
it's less than 1% of the value of the shares
it makes no sense when you think of the administrative overhead.....~$435k in total with the largest shareholder with 31m shares worth ~$6m getting ~$50
perhaps it is signaling they have cash, but to me it signals that they could have got 8-10% return by just paying down that debt, but thought it better to make a token sad attempt at propping up the shareprice by a symbolic gesture that is going to cost some people 50% of that dividend.....insanity (and not too different to the capital return that ended up being a non franked dividend a couple of yrs ago!!)!!
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