The question for me is why was the dividend so low...
guidance was 50-80% payout ratio, $0.11 is 40%
forecast for shipping tonnage and price is looking good for H2 (both better than H1)
Cash on hand was strong enough and there aren't any obvious one-off's coming up (i.e. tax or purchases)
so why go below guidance? the optimist in me thinks that there must be something cooking (development, acquisition or diversification) hence the need to keep more cash than their original guidance.
Iron ore price, page-5538
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