somebody has to get out today.., page-25

They are now paying dividends out of income (current cash flow) rather than out of capital, debt and income. Probably as the capital growth component is stagnant or becoming negative in growth terms.

So rather than increase debt (sensible in the current economic cycle) just to continue to pay a set dividend figure, they are now going to continue to pay out from the income sources only (ie real money)

Hence the difference.

However it is still real money !!!!!