STO 0.65% $7.69 santos limited

Ann: Dividend/Distribution - STO, page-21

  1. 669 Posts.
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    Something is not right here. From 2021 Full Yr Results "Santos’ sustainable dividend policy which targets a range of 10 per cent to 30 per cent payout of free cash flow". Now we have FCF = US $1,708 mil (51c/share) we are being returned 7.6c (15% of free cash flow). But report is saying "US$605 million in shareholder returns" (35% of FCF) because they are including US $305 mil being share buy back. Share buy back is not dividend, this is incorrect.
 
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