and there it is, the FINAL cash splash as predicted. of course the yield will give this a temporary high, like an addict on their next fix. they paused the BB to pay this "special" hit (as predicted - typical 101). longs needed this reprieve, no matter how temporary.
once this goes Ex...ouch.
cant believe how this cash grab shrouds all the RED ink. mkt is so fickle that it ignores all the underlying and just piles in for the fix. Look at the RED:
$373m cash @ 30 June - $126m div payout = $247m cash left post div....this will allow one more year (ex buybacks) to artificially prop up the ailing SP with "special" divs. theyre attempting to hold the >~$200m in annual div payout, well there's only enough fuel left in the tank for one more payout at this level....lets see if they slow the BB to allow for one last boost next year too....!
excluding the cash handouts that will eventually deplete this balance, H2 is UGLY. this year will be telling, theyve given themselves breathing room of 1 year max....lets see them hold onto FUM or its $7 by this year end, esp once this cash balance depletes, leaving zero appeal.
fee revenue down $32m as I predicted!!! next year will see another $32m slide at least vs H2 FY23.
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