Prime Trust has previously announced a distribution of 2.1 cents per unit for the March quarter, bringing the total distribution for the first nine months of the June 2008 year to 6.3 cents. The PDS forecast a full-year distribution of 8.5 cents. What are the risks to the distribution for the final quarter?
MD-elect Philip Powell
Tuesday’s announcement from the Board stated that there will be a distribution in the June quarter which would ensure an amount equal to the PDS rate of 8.5 cents per unit, so the Board is satisfied that the distribution forecast will be achieved. It’s worth restating that if our distribution is 8.5 cents, at the current unit price of 60 cents the yield is above 14 percent with an asset backing of $1.05 per unit.
PTN Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
