I'm wondering how you can pay 13cents a year dividend then only...

I'm wondering how you can pay 13cents a year dividend then only .3c after.

The interest rates are pretty much the same.
NOI has dropped a little.
They probably have cut down on maintenance.
They own pretty much the same amount of properties than in the past.

I could see a drop as a result of a few things but not from 13cents to .3c

The big thing that they are doing with their money is paying back debt with their profits but, correct me if i'm wrong this ain't TAX DEDUCTIBLE.

So riddle me this........

Where is the money going?
Or
What has changed significantly?

Their Income .... Nope
Their interest rates .... Nope
Their portfolio .... Nope
Their management fees .... ????
Their Accounting methods .... ????

HELP!