Hi, Bert.
Would there be any merit in reducing the minimum allowable dividend of $4.00 to say, $3.50? I realise the outlay will increase as losers are struck, but the strike rate of winners will also increase. From my understanding, this might have avoided the criticism directed against yesterday's performance even though one day's results is hardly conclusive.
Is the $4.00 minimum a notional figure or did you actually test a lesser cut-off dividend, and consequently discovered that $4.00 was the ideal minimum dividend?