May 3 (Reuters) - Santos Ltd STO.AX :
* Liquidity of over $4 billion in cash and undrawn facilities provides a buffer
to reinforce company and deal with short-term market challenges"
* Says confidence in the long-term demand for energy remains strong
* Subject to business conditions, dividends will be based on a payout ratio,
expected to be a minimum of 40% of underlying NPAT"
* Source text for Eikon ID:nASX1DVSct
*