I think it was way back in 1994 when they paid only one dividend...

I think it was way back in 1994 when they paid only one dividend for the year. Since then they have paid out like clockwork every six months. I don't believe that they will want to break this record but may reduce the payout ratio slightly, currently at 50%, or they may just keep hold of what they see as 'extra income' due to the olympics and the affiliation changes of WIN and Southern Cross.

PRT paid 13.3 million last FY to reduce debt to 65.5 million which now stands at 1.4 times EBITDA. Maybe this FY year they are aiming to get it down to 50 million which will still leave enough for a solid dividend return as well as reducing interest payments by well over $1 million.

Either way, it can only strengthen the company for what the future holds. In my opinion it is one of the best investing opportunities currently on offer - imagine a few years time when all debt is paid off what that will leave for dividends .