STO - Brave new world, page-229

When I looked at the Dec-21 half year results, I liked what I saw from both STO (post merger) and WPL (pre merger). I posited that WPL's massive dividend and STO's modest dividend would see more interest in WPL. The STO buyback was a positive but very small. WDS (post merger) now benefits from BHP's assets and greater scale. So agreed the STO share price plus dividend performance is disappointing, when you compare it to where else you could've parked your capital. However as a STO (bag) holder, I haven't worried about their cash flow generation.