Reduction in dividend very disappointing for long term shareholders experiencing a lot of ups and downs with STO to see the div decline from 11.8 cents with 70% franking ie another ~5cents down to roughly 10c only this half. There is nothing in the report that explains why this is acceptable in the current environment.
The free cash flow is coming in every day. We all know the FCF since the reported half closed will be massive. Surely enough for development, paying down debt, etc. Added to the free cash flow is potential proceeds from sales outlined in the report.
Also interested in the absence of franking credits. No tax paid?
Ann: Dividend/Distribution - STO, page-24
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