Ann: AGM Presentation 2018, page-5

See slide 21. Dividend between 5-7 cps for 2 years. It is currently 7 cps, so my guess is down to 5 cps if they want more capital.

I was also caught in Sydney, but booked a hotel in town.

Other points that occur to me are there has been no up tick in demand for debt agreements in response to the fall in house prices.Tim suggested rates, or unemployment need to rise. My own view would be there will be a lag before the credit squeeze causes problems with forced sales, smaller loans and higher rates on investor loans. Tim said they were not lowering the LVR on their house lending. Given predictions of falls of 20% in house and more for apartments I find this surprising.

They have lost some Market share, but attributed this to irresponsible agreements negotiated by some competitors which would not deliver. They were not prepared to compromise standards.

A lot of questions and discussions so others may be able to add mor points.