I agree, I don't think he meant "never". If you make $20m in profit and you distribute 10% as a dividend it won't really harm growth at all. On the other hand if you are still growing revenue at 50%pa then maybe you would prefer to direct all the revenues to expanding the company or doing the DFU trial. We aren't at there yet but we could be in a couple of years.
PNV - Banter and General Comments, page-11831
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