The distribution mostly depends on rent collected. Generally,...

The distribution mostly depends on rent collected. Generally, office sector vacancy is still creeping up and leasing incentives are very high. Have a look at the CBRE Office leasing report for Q1 2024. It was released a few days ago. Of course that report is not Dexus specific but it does indicate that its a pretty tough leasing environment generally. Industrial is a different story. Vacancy is low and rents are increasing. But Dexus has a lot more office than industrial. Its possible the distribution will drop a little next fin year. Longer term distribution should grow and if/when interest rates drop Dexus yield will look more attractive.