15% reduction in distributions is s lot lower than expected.
They're obviously using the difference between funds generated & distributions to further reduce gearing.
I can honestly see zero growth next year in distributions or even a modest reduction unless RBA starts to slash the interest rates.
Don't forget when the hedging they do have in place is unwound & re-covered it will increase interest costs even after the RBA stopping increasing interest rates.
Ann: COF FY23 Results Presentation, page-3
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