Projected FY 2021-22 and Final dividends, page-35

Hi Alejandro

really appreciate your posts.

One comment re the dividend. The 20-50% dividend figure will be based on your net profit after tax figure of $1.84bn.

Agreed they have used cash on the buyback, but I see no reason why they would not pay the maximum of 50% in dividends.

One thing we all agree on is that they have rivers of cash at the moment. By the time they declare the dividend, they will already have a good idea what the first quarter of 22/23 will look like, because of the lag. So they will not be scared to hand over the cash to shareholders.

So, based on your $1.84bn, we could get a fully franked dividend of upwards of 90cents.