is it safe, page-4

basically euskal, as john kinghorn as admitted to the market, if earnings are downgraded then dividends forecast for FY08 of 13.2c may also not be paid. A low of 40m NPAT in FY08 (an eps of 11.5 cps) would suggest that dividends for 2008 would be 9.2cps (rams has advised it intends to payout around 80% of NPAT in ff divs). These dividends would be paid out in april and october 2008 and would still give a strong yield on RHG at prices above 1.50.