Did you really expect the company to plough that amount of dough into the business, and still be able to merrily pay dividends along the way?
Yes, absolutely - if they plough that dough into the business correctly. But they didn't do did it correctly, which is why there is no dividend.
The lack of dividend is not because of the amount they invested, it's because they invested it poorly, by failing to consolidate the projects or share infrastructure, and failing to consider oil prices could drop, and then had to sell off a lot of cash-generating assets to cover for that failure.
News: ORG Origin Energy says FY net loss attributable $2.23 bln, page-5
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