Ann: Mt Edwards Nickel Demerger Update, page-142

@DF2021...........I wouldnt be too worried, it's clearly is a return of capital as they are releasing a set of assets which will become its own business, with its own set of creditors. A dividend is defined under the ITAA 1936 and while we have had a 1997 update to this Act this original law and definition is still relevant here ;

‘Dividend’ means a dividend as defined in subsection 6(1) of the ITAA 1936, which includes any distribution made by a company to any of its shareholders, whether in money or other property, and any amount credited by a company to its shareholders as shareholders; but does not include moneys paid or credited by a company to a shareholder or any other property distributed by a company to shareholders where the amount of the moneys paid or credited, or the amount of the value of the property, is debited against an amount standing to the credit of the share capital account of the company. The taxation law definition is wider than the usual or company law meaning of dividend, and can include illegal distributions and distributions of money or property that do not satisfy section 254T of the Corporations Act.

I think it should be a pretty clear cut case this one as I cant see how on any reasonable interpretation you could consider this a dividend.