Ann: Dividend Policy, page-14

it seems strange to me that the board is discussing a dividend policy in advance of a new CEO joining and before we even see any profits/ebitda/cashflow from the company excluding the logistics business

perhaps David Cronin pushed for this given his large shareholding, but it makes little sense given the company has (a) minimal free cashflow, and (b) no franking credits....it seems like another poor decision imo (similar to the one last year where they indicated a capital return which then turned into taxable income!!)

if they have access cash, perhaps best to do a buyback and pay dividends when it comes with franking credits......if David Cronon wants some income, sell some shares!!