distribution announcement - 3.5 cents per unit, page-8

Good stuff.

What does the bit about "taxable income forecast to be 5cps" mean? Are they referring to with franking?

Looks like half year op cashflow comes in at about 3.75 cps, so div is covered.

Should be a good trade if the market doesn't notice that cashflow (ex expenses) fell 32% on last half.

Overall though, an excellent result for shareholders and well done. Not just a div, but displays a degree of confidence - especially the avoidance of a DRP.