Ann: Trading Update, page-13

I agree with both, utilise the capital for growth rather than splash it on Div. IF? secured and reasonable growth is available

future income, cash flow and CAPEX are visible to the management. they will ultimatly draw the line between prudent Div and growth.

Nevertheless, On 125m shares, 2.5c unfranked Div will cost the comp. 3.12m which is around 20% of cash on hand @ the end of June.

PTB will have over 12.5m in cash and it is growing as we talk.

I see Dividend not only as a mean to reward shareholders but also as a manner to draw in future shareholders who are looking for steady income
on top of some growth.

The world economy is in a low-interest environment and may stay there for years, if you can earn 5c income in Div for a dollar invested you should be OK, if the DIv is Franked that becomes 7.15% ROI annually. add some growth to the business and we are all doing well.

PTB is essentially a service company in the turbine jet engines, majority of their earnings derive from servicing and selling parts of two specific Engines. this is not a high growth tech company by any means, more like a solid earning through contracted services, no shooting the lights here.
PTB is not an innovation comp. , it's no Tesla nor Microsoft

For me, PTB has defensive earning qualities, it is a reliable service company, undervalued, with solid earning and good management with skin in the game. Maybe, Management desire Div as it supplements their salary and affords them lifestyle and retirement one day.

The beauty of a company with a reliable Div payment is that it puts a floor under SP as long as Div is paid. these returns on investments lure investors to purchase shares . as share price rises Company can raise capital on a rising SP for further expansion.

First, let PTB imbed the last aquisition, and Maybe on a promise of 2 - 3c DIv in September SP will rise towards the 80c mark, which is what I would like to see.