Hoping for a 3 cent dividend announcement in
August Full Year Results.
Reasons why 3 cents div possible:
1. less capex in last quarter of FY 23. Otway Development has come to an end. Current Waitsia Stage 2 expenses are mainly labor costs. Not that big on a per quarter basis.
2. Higher production plus oil not sold in previous quarter should help BPT cash position.
3. $500m Franking Credit balance of BPT will not go down unless BPT increases dividend even more!
4. BPT can afford. Dividend is not paid till end of September. By that time, additional cash flow from first quarter FY24 will be in the bag.
5. Needs to show confidence in the future. And put those naysayers out of business.
Beach Energy Limited, page-111
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