AUD up 1.6c from Friday's close. Each rise in AUD decreases interest payments for AEU. Now that the govt have stated they will fund the operation of ABC while centres are sold off it has reduced the uncertainty around the possible loss of rental income for AEU. AEU released a statement last week noting that not one of their 450 centres was in arrears re receipt of rent from the operators. The ABC debacle has created a strongly oversold situation in AEU. Shares still available for under 30c. Divs of 9c for FY09 are still the official company forecast. I expect divs to be 11c in FY10 and 13c in FY11.
stronger aud ensures divs of 32 pc, page-12
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