Sorry, Crookers, can't help you here, except to say that the company believes it can utilise the funds more productively than in paying high dividends.
I concur with former shareholder Retired that there are better investments around than QMS: in any economic downturn advertising is one of the first things to fall. Having said that, every share has a price where there is value - in this case I'd be waiting for low 90s.
QMS Price at posting:
$1.03 Sentiment: None Disclosure: Not Held