Company paid out $26.2m fully imputed last year - so $13.1m to the Coop. Dividend and patronage reward was $8.1m. Company kept the remaining $39.2m of NPAT.
Understand the need for the Coop to build their reserves, and a buffer for any rainy days ahead. Spent a bit on redeeming those shares, and should be good for remaining shareholders, and for NTA/EPS etc.
Would think potential for a stronger payout ratio and larger dividend. 7c equates to circa $7m - sure they can afford at least that!
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