Mmmm - did anyone else notice the unusually distant ex-date and payment date for the 4c final dividend?

Doesn't go ex until 17 January, nearly two months after the announcement, and is not paid until 1 February, so that is helping keep the share price up meantime. And since that dividend requires a full $15m from a NPAT of only $18.9m I expect the interest earned meantime over that period will be welcome to TWR. The dividend was a cent per share more than most anticipated, so the Board have bent over backwards to show holders they mean to reward them over time.

Note that the dividend is unimputed and therefore subject to 33% RWT, being a 1.32cps deduction when received "in the hand".

Given that in combination with the interim dividend the total payout for FY22 exceeded NPAT I suggest a buy-back is not imminent. But, as pointed out in 1671 above, we can hope that FY23 is to be a watershed outcome.