Decent dividend yield though, but then again why can't they...

Decent dividend yield though, but then again why can't they reinvest that dividend profitably, is probably an indicator of why they'd rather return more dividends back than reinvest.

You answered your own question Sabre. Would rather they return surplus cash to holders than gamble with acquisitions like QBE has done.

I think the half yearly will not be flash as it will not meet their published revenue targets. The brokers have already been downgrading earnings forecasts hence the slide but with Australian stocks, can never tell if bad news has been "priced in".