RE:not impressed at allSorry, that is complete nonsense. They are investing in growth projects which will be immediately accretive but set themselves up for bigger growth in the coming years. The prudent way to do that is by capital raises. There is ample scope for dividend increases over the next few years. Just look at the YTD payout ratio, which will continue to decrease as we move forward, all things being equal. Yes, when it gets to $20 it could be time to take some profits off the table, but be assured that management know exactly what they are doing.
Today's market reaction is kneejerk and somewhat macro-related.