RE:Receives AUD$2,276,680 (gross)/AUD$1,593,676 (net) Well, unfortunately that's anouther miss on the income covering the dividend.
We drew down almost $1 million on our cash reserves to payout. The income likely isn't helped by the fact AUD has fallin a bit to CAD by a couple cents recently.
We have 3 more quarters that we can sustain a 2 cent dividend based on these numbers before we exhaust our account. I have to expect that we should have a divided decrease coming to either 1.5 or more likely 1 cent within the next 2 payouts. (Previously the maths were showing approx 10 quarters or 9 from now)
Seems like jnsfernley's is correct that the numbers aren't as healthy as management has been guiding.
The positive side is that 1 cent payout seems sustainable, which is about 9% yeild at the current close, but that's lower than most likely signed up for.
When I originally bought in my expectation was 1 penny with hopes to average 1.5. So far we have been exceeding my expectations, but the outlook is a falling backwards unfortunately towards my expectation, but share price will likely follow.