Hi, trying to understand the GPT distribution.
Some months ago they cut dividend from about 29 cps to 20 cps - shareprice was smashed, but they said the 20 cps was based on a percentage of operating revenue and was prudent and sustainable(I think - something to that effect?).
Question is - now several months later, they are talking of a distribution of about 7 cps. I don't understand how that works - what happened to the calculations that allowed them to announce 20 cps several months ago?
Surely the tenants are still paying same rents, or even increasing rents? Where is that 13 cps disappearing to?
Thanks, Ilori
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