No surprise really that the interim dividend was maintained at 1 cent per share.
The company has yet to appoint a new CEO to drive a vision and strategy well beyond the next few years.
With global sentiment building against fossil fuels, many smaller Australian O&G companies will struggle to grow their scale and raise the finance/capital they need, even if they have attractive acreage.
It seems an excellent opportunity for Beach to spend some of the healthy cash-flow dollars to gobble up some of these tiddlers, wherever the economics stand up.
So perhaps keeping the dividend around current levels reflects preservation of capacity to grab new opportunities beyond current projects. My speculation only!
Beach has been around since 1961, 60+ years. Best to keep growing by maybe swallowing some smaller fish, and hopefully avoid the sharks that may try to sink teeth into our company.
No surprise really that the interim dividend was maintained at...
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