I emailed the company to confirm it was an unfranked dividend. They replied (very promptly and politely) that the distribution was indeed a distribution of profit, as they sold the asset holding companies which had been massively marked down at the time of the GFC and the in specie dividend of BGP units. They also said the second distribution, of about 2c in about two months, will take the form of a reduction in capital.
BGP, page-25
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