distribution announcement - 3.5 cents per unit, page-36

hi
We all knew about the estimated divi from AJA as they had announced an estimated 3.5c several months ago. They have delivered on their announcement which has been done out of earnings and is a 20+% divi for the year. The announcement has been received with little enthusiasm by the market. I would have put the news and divi up there with the improbable possibility that Aust could achieve a goal at the football world cup. !! Why the muted response ???
Questions or rambles
1/ We knew the announcement would be made about the 15-20 of June but prior there had been no noticeble upward movement in the price of the stock. It was stuck at 35/36.5
2/ There was a lot of instos buying in May and the beginning of June. Why ?
3/ After over 1 day of the annoucement the sp has struggled to 38/38.5 cps. What - an increase of about 2 cps and the divi is 3.5cps so the divi had been built into the lo price !!
4/ The volume has been well down. Today about 3m. 6 months and 12 months ago the volume was in the 5m to 8 m per day after the divi announcement
5/ The new PM of Japan has said that they have to reduce their debt - that will make it tough for many people and business will be affected in Japan.

These are the things that come to mind at the moment - I know there is still 4 days to go before the cutoff but this time round it feels a little different. I have been holding this share for over 3 years now so know (almost ) what to expect.
Can I have some intelligent feedback to all this. At the moment I am slipping nearly into the sell category
Thanks - I enjoy the posts or the ones i can understand !!