I disagree that incentives should be linked to SP because it encourages them to do short term things that artificially boost the SP in a way that isn't sustainable. EPS growth is the driver of long term SP growth and personally I would rather they focus on that. Now having said that, maybe the EPS growth targets need to be looked at and made more ambitious. That is for the LTI scheme. Not sure what particular performance rights were vesting here though.
However I agree completely about the (probably now $1B) cash pile. Special dividend + buy back would be my preference. People who say the last buyback "failed" don't get what a buyback does. A buyback could only fail if they didn't buy back the shares. It is about undoing years of dilution and, if done more regularly, would create another vector of EPS growth.
A2M Price at posting:
$5.55 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)