There is no hiding of anything re. the divi IMO. Like many others (including me) you got a wrong expectation of the cash part of the 2011 divi simply b/c of a flawed understanding of how the divi is structured.
Even if the total divi is 8% of 2011 net earnings, the total dvi for 2011 is only 3.1c. Of that amount, 2c have already been paid as part of the F-share 3.4c. So only MAXIMUM 1.1c left payable as cash divi. But, as Chad pointed out, per company policy declared in 2009 divi is UP TO 8% of net earnings, not 8% of earnings as we all interpreted it to be.
Here is the math:
2011 net earnings= $25,894m
o/s= 67.044m shares
if based on max 8% of net earnings:
total 2011 divi would be = (25.894m / 67.044m) x 8% = 3.1c
They paid 3c instead of 3.1c.
3c-2c (F-share)= 1c cash
