There will be no announcement of dividends in the quarterly this...

There will be no announcement of dividends in the quarterly this coming Friday. What we will find out is how much money has been made and spent. The Capital Management Framework announcement issued on 16/11/22 clearly says dividends might be applied in the 2023 financial year. So that is sometime between 1/7/2023 and 30/6/2024. Nothing will be applied prior to 30/6/2023.

In the Capital Management Framework announcement Figure 1 it's interesting that Excess Cash Flow may be applied to;
1. Debt Reduction and or,
2 Return Excess Capital via Special Dividend, or Buy-Backs or Capital Return.
3. Or invest in further simplification or cost reduction.
4. Or Investment in Organic Growth.
5 Or Investment in inorganic growth / acquisitions.

So best not to keep on talking about Dividends coming or announced this Friday and best to wait and see what they do with all that excess cash they have been making in the potential areas as announced.