What a lot of us forget when discussing the ability to make full...

What a lot of us forget when discussing the ability to make full repayments on debt is that they have a targeted gearing which from of the top of my head only requires a further $2m from net debt position. They are never going to repay all debt as most of us (besides that Te three fellow) would agree that leverage has it's optimal sweet spot. I would imagine that $4.9m will simply be refinanced at the appropriate time and the other repayments will occur when mgt deem appropriate. Talk of discussing rollovers to later payment dates is premature IMO. On the dividend, I tend to disagree and think the market would react positively. History tells us ( as does dividend theory) that markets prefer a stable dividend policy and payout ratio. I think it will come in at $0.05 for the HYE. Maybe that's my personal agenda as haven't sold a share since 2003 and as a 10 year plus holder want profits distributed rather than having to trade in and out (albeit at a level it can afford).