The dividend can't be looked at without a full look at the state of the rest of the business. This is still a business that needs to spend to shore up its production profile.
The dividend will not increase to 23c, I can guarantee you that. In fact I doubt it will increase at all.
The company has US$150M in capital to spend at Simberi over FY22 and FY23 and will have lower production at Simberi during that time as well. Atlantic Gold will also have significant capital requirements after that.
The company has also flagged M&A so would want to have some cash flexibility available.
SBM Price at posting:
$3.16 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)