Just for fun (quick and roughly),,,,,,
CY 2022’s cash dividend (56c) was lower than CY 2021 (62c), accumulating cash to assist with buy-back in 2023 (CY),,,,maybe???
Let’s say30% of shares targeted(say 70% belongs to family,,,,,,loosely)
Say, USD100M loan facility and say USD100M from VGW accumulated cash.
Target = 30%* 613M shares * 15% (i.e. 15% Pro-Rata offer for your shares) = 27,585,000shares (targeted)
Then,,,USD200M/27,585,000 targeted shares =USD7.25/share buy-back
DIVIDENDS (AUD)
A total of $345(approx) got paid out in dividends in 2022 (CY 381M, in 2021)
So say 50% more cash available for dividends in 2023 CY (above 2022) =$518M for 2023CY
Then ,$518-$142M ( i.e. AUD 142M cash to assist the buy back) = $376M (AUD) available for dividends in 2023 (CY)
Then 613Mshares (not considering changes through options/rights etc) – 27,585M (targeted above for buy back) = 585M shares available to take part in Dividends.
Then CY 2023 is:
$376M (AUD avail for dividends)/585M shares(total) = $ 64c / share dividend (for CY 2023)
Plus USD$7.25 (AUD 10.30)/ share buy-back for15% of your shares
Smaller dividends will apply, if they want to pay the loan back in CY2023
