Ann: BWP Trust FY2020 Distribution Guidance Withdrawal, page-4

I sold half my holding at about $4.20 when I began reading quite a lot of professional opinions that BWP was overpriced. I didn’t think of how bulletproof BWP would have been in This situation or I would have been a heavy buyer at the bottom. I agree, I think the Distribution Guidance is just erring on the safe side. I can’t think of any business during this crisis that would be more bulletproof than Bunnings and the earnings should be predominantly unaffected. That’s not to say that the board won’t cut the distribution and put a little more away “just in case”. I can’t think of what for, but that’s their prerogative, and that’s what they’re paid for. Given the number of things that were out of stock at Bunnings because they were made in China, people will be returning in droves once normal manufacturing and exporting resumes. That of course is largely irrelevant to BWP earnings and hopefully distribution SHOULD be relatively unaffected.