For all those people who are dreaming that the 3c per half...

For all those people who are dreaming that the 3c per half dividend will keep on being paid out - well dream on .

In Feb 2010 annual results (19/02/2010) MCW states core earnings estimates FY2010 are 6.5 cents with payout ratio of 75-85%. The first half had core earnings of 3.85 cents with 3 cent divvy. Second half is therefore 2.65 cents with divvy between 1.875 cents and 2.525 cents for the second half divvy.

What a great deal - MCW sell good US properties on the cheap near the bottom and CQR buy second class Aussie shopping centres as a substitute, and slash divvys!!