Haha, thank God I am not the only one that failed to understand...

Haha, thank God I am not the only one that failed to understand from a first read whether this good or bad news.

After reading it more carefully, I think what they are trying to say is that the 27c dividend may not be possible this year after all, contrary to the promised guidance. However, this is subject to adverse effects in the second HY in case their Homebuilder worst case scenario eventuates. So in the end, I interpret it as 27c is now the FY21 top range dividend, rather than the guided dividend.

That being said, TWD has shown over the years that it has a greatly proactive, experienced and conservative board. So as a holder, I do believe them in saying that they have taken necessary measures and they are in better position than the competition as it stands.

Also, noting that 11c + 16c was the typical dividend breakdown in 2017 and 2018.