Ann: Half Yearly Report and Accounts , page-20

I think they are capital raising also because they are paying out to higher dividends, their EPS is 11% yet they are paying out 11% in dividends, a company can not last long doing that, ideally a company if they have a EPS of 10%, their dividends should be 5%, if they had a lower dividend they would not need to capital raise, there is no free lunch here, infact if if they were paying 1/2 the dividends, return would be 5%
and their sharebase would not need to be diluted by 10%.

WES should be trading at around $7 if the shareprice was reflecting what the real dividend yield should be.