drp or cash out on the 5c divvy, page-8

It was an effort at very roughly annualising the statement:

Expected net operating cash flow for 12 months is 12.5c.
Expected annual distributions of 9c.
I'm assuming an average tax rate of 30%.

Not that familiar with real estate trusts but trying to apply to a general stock template model to compare against other equities. If the calculation's dubious I'd welcome any comments.

Cheers