Ann: BlueScope increases 2H FY2022 earnings guidance, page-25

I think this will be the last of the buy-backs and is due to end Feb23 - I'm expecting higher dividends after this date. Goldman Sachs is expecting dividends of 65c from profits in the current FY which indicates a dividend of 40c to be paid mid-October - and if profits keep rolling in next year then I'm expecting a one dollar fully franked dividend out of profits for FY23 - they probably want to keep a lid on the share price until the buy-back is completed.
They will only have ~450mil shares on issue then and currently the Top 48 shareholders holding 100k+ shares own over 89% of issued shares and this should further tighten as the buy-back is completed.
The retail market will like fully franked dividends from them when they commence.