Management stated that they can't pay a dividend until the debentures are repaid.
Now if they decide to let the debs go to full term that means they will be repaid in Oct 2021, so no dividend until possibly the Half yearly of 2021 2022, so possibly Feb 2022. If they decide to go this path.
That would mean they would have approx $50-60m in the bank by the time the first dividend is ready (after debs repaid, tax etc)
Of course most of us fully expect the debs to be repaid in October to save $2m in interest, but we will wait and see
Management stated that they can't pay a dividend until the...
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