Ann: Group Strategy Update, page-3

Agree Grumpy Bear. I think all of the $1.31 dividends will be fully franked given the profits that will be realised in this half - balance of 272 Hedges Avenue, Stages 3/4 of Montaine Residences, completion of the sale of the balance of The Lakes development sites.

It looks like the SERF and SEIF shares have been sold this morning in a special crossing at $2.36. I wonder whether this is why it fell the week before last as some had expected them to be sold on market and have a depressing impact on the share price.

$1.31 fully franked and $0.90 capital return is $2.77 total value (including the $0.56 of franking credits) and nearly all of this should be received in 3 quarterly payments over the next 9 months.

Job well done Sunland!!!