Well, things are definitely on the up, SP touched $0.48 today, a...

Well, things are definitely on the up, SP touched $0.48 today, a nice increase since a low of 0.38 a couple of weeks ago. From the chart, it looks like it will consolidate at 0.485 for a short time, as it churned around there for a few weeks back in September, and it looks to be a level of both support and resistance over the last 12 months.

My guess is its getting close to distribution time, and even at a 0.48 SP, the distribution is still 12.5% fully franked, which is about 18% gross. I think its the best yield return in town from a quality company.

My prediction is it probably won't consolidate for too long at the 0.485 level because instos in particular will accumulate a parcel to grab the high yield, so this will drive the share price farther upward until EX-DIV date.