The letter recieved today introducing the DRP stated " .......as...

The letter recieved today introducing the DRP stated " .......as well as confirming its maiden dividend as outlined in the company's Prospectus. We know the dividend payout ratio is 65% but the Prospectus also states " Implied forecast dividend yield for CY17 at the Offer Price* 7.65%" . The offer price was $1 so for each dollar invested you would recieve 7.65 cents. Are they saying they will pay the dividend at a 65% pay out ratio and implied yield of 7.65% or are they saying they will just pay out the dividend at 65% of the nett profit. If it is the former then they have met guidance.