A trust is not required to pay a distribution, but it is normally prudent to pay one at least equivalent to the taxable income of the trust. This is because any taxable income that remains in the trust is taxed at 46.5%. GJT will still cop this tax rate on nearly all of the 3 cents of taxable income that the trust has generated and the tiny distribution makes very little difference to this.
The only other thing that I can think of is that there are occasionally clauses that certian fees (Responsible Entity/Management Fees) are only payable if a distribution is paid within the financial year. Galileo Funds Management may have therefore required that a token amount be paid to ensure they recieved Management Fee payments to pay Directors/employees wages etc.
GJT Price at posting:
5.7¢ Sentiment: Sell Disclosure: Not Held
