IMO I don't think they'll ever pay dividends to shareholders....

IMO I don't think they'll ever pay dividends to shareholders. They want the benefits of a publicly listed company without giving anything back to shareholders.

Currently, they have a very simple solution in the palm of their hand to improve the balance books - i.e. reduce their remuneration. Of course, entitlement and conflict of interest is overbearing so it will never happen.

However, they already think it's reasonable to take such high remuneration that it is the single biggest hindrance to growth. I can imagine they will give themselves a bigger and bigger golden pat on the back as profits increase.

A second very simple solution in the palm of their hand that will turn the company around is to fix the fee structure/business model to make it more attractive to giggers and punters. Once again, it's not going to happen because they overvalue their service, ignore feedback, ignore market competition and arrogantly feel the fees charged are fair.

As Tom Waits puts it:
The ship is sinking, the ship is sinking. There's a leak, there's a leak, in the boiler room ...