the best thing about the rate reductions I am assuming is the...

the best thing about the rate reductions I am assuming is the reduction in interest costs on both the bank debt and bailment facility, I would imagine that given the cuts we have seen now, the savings are definetly material. I think that if transaction volumes dont collapse on account of direct charging or a recession in australia, that you can bank on a dividend in 2009/2010, or if they pay down all debt during that period, which management have previously alluded to i think, then you can bank on a dividend in 2010/2011, the beauty will be that once all the changes have been bed down the business will be quite mature in a sense and therefore I would guess that the payout ratio will be quite reasonable. Im guessing a conservative ratio of 50% would be in order. Of course I have no idea what I am talking about and I am simply guessing. Other peoples thoughts??