That is incredible, it is generally poor financial practice to...

That is incredible, it is generally poor financial practice to stash your cash away letting it be eroded by inflation, but I guess they are not so concerned given the negligible global growth.

In any case the greatest investment minds in history all believe, profits that can't be put back into growing the business should be returned to share holders through 1) share buy back, or 2) dividend/reinvestment.

I would be massively impressed if AJX bucked the ASX trend of dividends and implemented a share buy back scheme for the first few years of profits.