why assume 10% div ? , page-6

agree matt,

but they are a trust. what intrigues me is their "distributable profit" was 13.25c, but they only distributed 1.4c & that was in annual report. BUT earnings per share were aq loss of 44.91 cps due to the write offs. So in normal terms they don't have to pay a div as they made a loss. what I don't know is what their trust deed says on this "distributable profit". maybe those with more knowledge can supply the answer?

cheers,

ned, taken a bit off the table at 13, but happy to let the rest run for a while.