"Why are they paying this dividend out to SHers, and not using it to continue to accelerate growth?"
Simple answer: They are paying the dividend because, simply, they can.
After the sale of the NZ business they will have sufficient capital left over to still invest in accelerating growth in Australia.
"LT Holders will be happy to have some return, but this will significantly effect the shareprice, cutting it back in half to where it was just yesterday."
Yeah, but you'll have the money by which the share price falls sitting in your bank account, so your financial position is neutral.
.
Ann: Sale of NZ business and assets, page-38
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