I understand. But the chart doesn’t say when capital SHOULD be invested. It says when it WILL be invested. And it’s management teams that make that decision. And they won’t invest until the divi is covered. Hence that div outflow isn’t a plug.
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CLOSURE UPDATE: #M5 northbound between Junctions 26 #Wellington to Junction 24 #Huntworth. ALL the closures have now been removed. Please take care in the area and we would like to thankyou for your patience.