RE:Target is around 10-124 for this yearBased on the press release I would expect that most of the "juice" from the contract flows in 2023 instead of 2022.
My preference would be for them to follow their guidance for the use of free cash flow as outlined in the investor presentation. I usually also have a preference for share buybacks over dividends given the tax treatment. I also struggle psychologically seing companies pay dividends when the price to book value is less than 1x. Perhaps I am being irrational about this view on a dividend.
Best of luck,
LR