Ann: Dividend/Distribution - TCL, page-3

Yes, well, there still has been no announcement from Transurban about a donation or money for bushfire victims and their communities, many communities that have to pay these tolls. It has been previously accused of squirrelling away money in fees and then reducing them, Maxsted's other company gave $1.5 billion AUD. see below:
Transurban clearly seems intent on poor corporate responsibility, it looks miserly. See below
www.abc.net.au/news/2018-07-10/transurban-reduces-fees-after-raking-in-millions-on-top-of-tolls/9963036
They seem more concerned about their chair, also Westpac Chairman of AML scandal fame, Maxsted

Transurban chairman Lindsay Maxsted will come under pressure from shareholders in 2020 to find a successor and clarify how he will handle corporate governance at the toll road group as he prepares to step down from his other job as Westpac's chairman after a money-laundering scandal.Mr Maxsted, who has been chairman of Transurban since mid-2010, was re-elected for another three-year term in October at the company's annual general meeting and said that he expected to remain on for about another two years.But the outcome of investigations related to the Westpac scandal, which has raised questions over the board's risk management capabilities, is being watched closely by investors, who want Transurban's board to move quickly with succession planning.Mike Muntisov, the Australian Shareholders Association's company monitor for Transurban, said the group supported Mr Maxsted continuing as chairman of the tollroad group "subject to any further evidence that may be revealed from the APRA investigation into the Westpac AUSTRAC matter currently underway.""We urge Mr Maxsted to continue with the succession planning for a new chair for Transurban, as has already been announced," Mr Muntisov said. "This should be done in a timely and orderly way."Vas Kolesnikoff, head of Australia and New Zealand research at proxy group ISS, said Transurban shareholders may be concerned about Mr Maxsted continuing as chairman given the ongoing issues at Westpac, which have hurt the bank's share price.

With the remediation costs and APRA charges, there is a clear cost to shareholder returns from governance failures and the chairman would have to be considered by shareholders to be accountable for governance," Mr Kolesnikoff said."I suspect that going forward, the right thing to do would be for him to declare his intentions regarding his tenure at Transurban and for him to explain how he believes that he continues to be accountable for governance at Transurban as chairman in light of the issues at Westpac."ISS gave "qualified" support for Mr Maxsted’s re-election at Transurban's 2019 AGM to highlight previous governance issues at Westpac raised by the banking royal commission. Most investors voted for Mr Maxsted's reappointment in October, with 1.86 billon votes in favour. But 58 million votes were cast against against his re-election, with shareholder Peter Parsons among those raising concerns."I note that Mr Maxsted is also the chairman and non-executive director of the Westpac banking corporation, one of the four banks that perpetuated an unmitigated disaster on the Australian community and I feel that his association with the bank probably requires his undivided attention," Mr Parsons told the AGM."I don’t think there’s enough space for him to also chair Transurban.

"But non-executive Transurban director Neil Chatfield told Mr Parsons the board would "totally disagree" with his assessment."Lindsay’s capability and capacity has been a driving force in the operation of the board over many, many years and I think as you’ve seen today the results for security holders over that time have been quite outstanding," Mr Chatfield said in October."So we’re very, very comfortable with Lindsay’s availability, I know management are just delighted that Lindsay is available almost at the drop of a hat."ISS's Mr Kolesnikoff said Australian companies may need to consider putting directors up for annual re-election rather holding elections every three years due to a series of governance failures and performance issues.The only locally listed companies that have previously required annual elections are miners BHP Billiton and Rio Tinto because they are dual-listed in London, and must comply with UK corporate governance laws, which require directors to stand for reelection every year.But global winemaker and distributor Treasury Wine Estates started asking its directors to stand for election annually for the first time in 2019 because it considers itself a "truly global company" and wants to comply with governance requirements different markets.

Transurban declined to comment.

Maxsted's other company Westpac gace $1.5 million

Westpac Group establishes $1.5 million dollar Bushfire Fund6 January 2020 Westpac Group has established a $1.5 million Bushfire Fund. This Fund will support the rural fire services, our customers, and a number of organisations assisting with the recovery process. David Lindberg, Chief Executive, Consumer Division, said the $1.5 million Bushfire Fund will offer practical help on the ground. “Urgent assistance is what is needed as many of our customers and communities are facing unprecedented devastation, uncertain futures for their homes, families, businesses and for many, their livelihood. We are also committed to helping communities recover over the longer term. “Anyone who needs assistance or support should contact their local branch, Relationship Manager or call our Westpac Assist team on 1800 067 497 as soon as possible to discuss their circumstances,” Mr Lindberg said. The Westpac Bushfire Fund will include: $500,000 in grants to immediately support customers and employees whose properties have been destroyed or damaged. Grants of up $2000 can be accessed to help cover temporary accommodation, food and clothing;$300,000 to state-based volunteer fire services to continue to support the emergency workers on the front line;$250,000 to the Foundation for Rural and Regional Renewal (FRRR) to provide grants to impacted communities to support recovery and rebuild efforts;$100,000 to the Victoria Bushfire Appeal, established yesterday; andThe remaining $350,000 funds will be allocated for the rebuilding and recovery support that will be essential in the months ahead as communities rebuild homes and businesses, as well as for the rescue and rehabilitation of local wildlife.This Fund is in addition to a number of initiatives announced since the start of the extended fire season: Community: $200,000 donation to The Salvation Army Emergency and Disaster Appeal;Customers: A Disaster Relief Package for customers to assist with their needs;Donations: Donations are being taken at any Westpac, St.George, BankSA or Bank of Melbourne Branch or through our Mobile Banking App, which will further assist with the Salvation Army Emergency and Disaster Appeal;Matching Gifts: Any employee who donates to a charity providing disaster relief will have their donation matched by Westpac Group; andAs one of Australia's largest employers, Westpac Group has a number of initiatives to support our people who are helping the recovery process. This includes uncapped paid leave for employees who are emergency service volunteers, and counselling support.