124.4 million x 13% = 16.172 million / 250 million shares = 6.47 cents on an annualized basis.
This is "free money" cad as it involves using no new equity. The increment in cad comes from nothing but the financing arrangement. It will add a penny or two to 2013 cad so the midpoint becomes 1.07 to 1.08. Thus a 78 cent calendar year dividend = payout ratio of approx. 72.5%.........very comfortable to make penny per quarter a minimum.