I think thier break even is $5/lb Nickel and they make roughly...

I think thier break even is $5/lb Nickel and they make roughly $50mill for every $1.50/lb above this price. Nickel is averaging ~$9.50/lb this year, so $150mill profit at this rate. Sounds like enough to pay dividends. Even $50mill in dividends would be 7% return or so.

I think this capital return is the tax efficient equivelant of reinstating dividends. The next dividend will likely be in 6 months, come on $0.05 dividend! :D