It is clear in the results that after payment of the dividend, and taking into account tax due for FY22 and accrued tax liabilities for HY23, there is only $879 m left.
In light of that and given the continuing buy-back, it is unsurprising that they didn't pay more as the interim dividend.
Of that cash, assuming half of it is then spent on the buy-back, at current share prices it would allow the purchase of a further 60 million shares and then leave $440 million.
It also seems to be the tax liabilities which is what most people didn't factor in when assuming the dividend would be really high.
Ann: Dividend/Distribution - WHC, page-18
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Last
$7.65 |
Change
0.020(0.26%) |
Mkt cap ! $6.399B | |||
| Open | High | Low | Value | Volume |
| $7.69 | $7.71 | $7.64 | $24.66M | 3.217M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 22151 | $7.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.66 | 12306 | 2 |
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