big ann - bigger than ben hur, page-25

SD - do we dare mention that this one is on a 40 percent approx annualised distribution yield even when it hits a mere 50 cents? At 36 cents expecting 10.7c pu at half year - 59% yield.

OK the above might be cheeky upramping - sorry - If they cannot find a second dist of 10.7 cents to make up two 10.7 cpu halves. Their first half underlying profit was 6.33 cpu, and double it to 12.66 cpu pa. At 36 cents that is a 35% sustainable distribution yield.

In this panicked market a suitable yield might be 15%??? for a definate going concern, so expect sp to hit 84 cents??? while GFC still rages.

NB: There will be an adjustment required to this for the sold property cashflow, and for AUD versus YEN effect of cancelled hedging and cashflow translation effect from YEN to AUD.