Ann: HY2015 Half-Year Results Presentation, page-13

Negative, not sure if you have noticed, but the world has become a strange beast, with negative interest rates in the largest economies. i.e. People are paying the banks to hold their cash and get zero return.

Funds across the world are chasing yield, and IMHO, this will intensify.

While I agree DLS has lots of projects to fund before a dividend becomes sustainable, at the same time, DLS produced a large amount of cash, which somewhat frustratingly has been eclipsed by the convertible note debt. Anyway, its a bit of a moot point, as DLS will clearly not be paying one.