calm before storm, page-11

Furniture - you're right in saying that it's cheap compared to net asset value and future dividend potential. For now "the Trust's earnings guidance for the year ending 30 June 2012 remains unchanged at 1.65 to 1.80 cents per unit" so I think re-introduction of distribution at 2c per share is not likely. But I expect a distribution is very likely to be made in FY13, something like 1c per share seems reasonable (which on current prices is well above 10%).

A good forward looking distribution yield and a fantastic current discount to net tangible assets per unit and this is a compelling investment indeed.

I'm happy for the price to stay down where it is for now. I'm holding till FY13 regardless of what happens to the share price and it's a great opportunity to top at prices that will seem ridiculous in hindsight when the discount to NTA inevitably diminishes.