Fully franked consistent half cent dividends equate to a return...

Fully franked consistent half cent dividends equate to a return of just under 5% . . . while they put the $300m towards block cave which will reduce mining costs by up to 30%, which will not only result in higher dividend returns in the future but also drive growth in the SP.

Half a cent is actually quite generous as the dividend policy is up to 25% of free cash flow.

The BoD have stated they want to reward shareholders as much as possible. There have been several occasions in the past that the divvy was greater than 25% of fcf.

Grange has a proven track record of rewarding shareholders with dividends.