how much dividend?, page-9

Thanks for the feedback guys.
I will however stick to my view that a 50% payout of free cash looks reasonable, and like I said, if they take a more conservative approach, I don't care if I get the profit from dividends or sp growth.
I was just looking at what these guys could very comfortably afford to pay, while still being able to build cash balance rapidly.

You also need to consider that all companies change as they grow. The larger SLR becomes, the more the focuss might change from pure growth to starting to return cash to shareholders (including directors).
It doesn't look as good when these guys sell shares, so paying a div is a good way for them to return cash to themselves in a positive way.