dividends again ???

back to the old dividend debate again, sorry !

In 2007 fy, CER earnt 39 cents per share, and paid just under 13 cents in distributions, this half year, CER earnt 12.7 cents per share. Assuming ( assuming) the same amount is earnt for the next half year, ( although the rumours have it, this 6 months will see a vast improvement) approximately 25 cents per share, should we expect a return to distributions with a payment of 8 cents per share ( 1/3 of earnings) or will reduction of debt continue ?

Optomistic as always !