At the end of the year, they've paid out $30M in buyback and declared about $60M across the two dividends; that's over 9% total returned to shareholders cf their market cap and it's well within their generation capabilities on an ongoing annual basis. They will transition from buyback toward franked dividends as the franking credits allow.
It's not particularly exciting but it's good work and it's ticking over nicely.
PRN Price at posting:
$1.01 Sentiment: Buy Disclosure: Held
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