From the quarterly - "In order to further preserve the Group’s balance sheet position while it continues to invest in the P680 and P1000 Projects, it is unlikely that a dividend will be paid for the half-year ended 31 December 2023 (H1 FY24). Excess cash flow for H1 FY24 would imply a total dividend payment of ~$70-110M based on a 20- 30% dividend payout ratio range. The Pilbara Minerals Board will make a final determination on the H1 FY24 dividend payment and announce it with the H1 FY24 results."
No dividend likely but the formula would have allowed a small dividend.
Ann: December 2023 Quarterly Activities Presentation, page-4
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