With Lend Lease shares you get the main company as well as a Lend Lease Trust, which is a separate associated entity. The Trust invests in the main company and gets distributions from it, probably for taxation purposes. The Trust then distributes these as part of the overall dividend for LLC.
So while the main entity won't be giving a dividend, the Trust still needs to.
Last dividend the Trust's component of it was about 5c, so probably get the same this time, but maybe less, since they probably getting less distribution from the main entity this time too.
Financial engineering like this should be banned really. Its extra work for the company, the tax department and for investors. Better off to just lower taxes a bit and then ban that stuff, or change the laws so it won't be effective anymore. Same financial outcomes that way but get a lot of unnecessary additional work and wastage out of the system
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Ann: FY20 Unaudited Results Update, page-4
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