Yes, and they may prefer to retain capital and keep a stronger...

Yes, and they may prefer to retain capital and keep a stronger balance sheet/ratios moving in to FY16.
As far as a 4 cps dividend. Doubt that will happen. (I want it, but I don’t think its likely) If profits from FY15 are similar to FY14 then we can expect total profit of ~ $50-55 million, @ 40-45% payout that’s about 22.5 million. Minus the $15 million already paid in 1st half and we’re left with about 7.5 million or 2 CPS. Not really sure I’ve ever seen a company with profits down, interest payments up actually increase its historical dividend payout ratio. 1 cps, 0cps could be perfectly reasonable. Either way I'm not budgeting for much of a MRM dividend this half. It will be a welcome bonus...