doesn't matter how long it is until the refi - MMG needs all of its cash to get through this hurdle.
therefore, there will be no capital management initiative
i understand also that Macquarie Research Equities recently downgraded their dividend expectations due to the softer operating environment. Now 41 cents or thereabouts for the year to June 2009.
Still a healthy yield. . . . but the aussie recession has not really started yet.
