PDF with the BASF information: https://www.basf.com/global/documents/en/investor-relations/...
This is one of their stated targets. To increase shareholder dividends and to grow the company. Is this not just having your cake and eating it too?
I assume it just means they could have paid shareholders a larger dividend but chose to reinvest some of it for growth instead.
Do the math on what happened to this business...