Ann: June 2010 Distribution Announcement , page-16

NeilN,

CER earnt 185million last year in underlying earnings.
They were able to create/use deductions of maybe to achieve a predicted taxable income of 8.6million. All of the other other money was used to pay down debt. 8.6million divided ammongst 2.3billion shareholders = .3755c each

This year.

First half CER earnt 81million. 8million less then last year which was 89million.

This loss is mainly attributable to Australian dollar being so high. CER announced that their income was being affected by the aussie dollar being above 90c. Closing off some hedges was good for balance sheet but not good on earnings and dividends.

Although CER is earning lots of money, probably around 160 - 180million for the year. This will all be used primarily in negotiations for refiancing, Paying down loans to get better LVRS associated with them or Paying loans fully off.

You may not have got a dividend in a cheque but hopefully if CER has down the right thing you should see this added to NTA come End of this financial year.