my revised nta calc arrives at 1.711, page-18

One points I missed - if there is a write back it is likely to be in the 2nd half of the year after the new finance deal is done in Jan.

I read I think in the Wall St Jnl this week that most property REITs are trading around half NTA in the US - and many have reduced or no distribution as well.

Regardless of whether there is a write down on Australian properties or not, if the exchange rate stays were it is over the next 2 weeks the increase in value of the US properties in $A should offset this.

And to further defabstar's point, in the US there has just been another interest rate drop of 1% so this may have a positive affect on US property values.

I can understand CER not announcing a dividend this half based on the fact that the refinancing has not been confirmed, but on an ongoing basis, how much should CER retain to pay off debt and how much cash should it pay out as dividend?