How? Is this a term of the covenant i.e. not to pay dividend? of you think they will be low on cash after dividend payment that breaches the covenant?
Remember NPAT is different than operating cash flows. D&A is not a cash expense.I dont anticipate much cash spent on investing activities or financing activities, so majority of the cash from operations will be available to either 1) pay $130 - 140m in net debt or 2) pay some debt back and pay dividends.
Why not?
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