Christos thats a very old argument,and lets not forget penn as cfo and ceo was responsible for increasing div from .28 cents to .31 cents.
Div is now .22 cents,do you hear me complaining,answer no.
fy18 penn confirmed pay out ratios to establish .22 cents div,whats changed?Stating how important div is to shareholders not penns family.
penn has given his ebitda guidance/free cash flow guidance/his nbn payment guidance so why no div guidance based on his payout ratio policy.
If RB is correct regarding potential change in guidance ,then i hope management is hit hard with non disclosure asic rules.
OK estimate a div with conditions,but to avoid the imperative subject as confirmed by penn for a co like tls is pathetic.
Ann: Chairman's Address to Shareholders, page-36
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