have a look at the annual report for RJT rubicon japan trust....

have a look at the annual report for RJT rubicon japan trust. exactly that happened. RJT's sp would be depressed for years now because if it makes it through as a going concern then they have to pay out the 2008 div (declared but not paid) before they can declare div's in any subsequent years.

if BEC were not going to pay div on oct31 they pretty much had to say it today. that they said they would pay would make it quite difficult to explain to ASIC that the business's situation had materially (and unexpectedly) changed to the tune of what $40m cash in 4 days.

they paid div's to keep up public market credibility. they mentioned going private and takeover to assure holders and wouldbe holders that it has alot more value than the current sp suggests.

don't be surprised if max beck soaks up another 10% at the current price with his dividend. a JV partner will be pulled in to likely pay half of the $300m retirement development pipeline (and make off with a chunk more than half of the proceeds). that is not a drama since the current sp is pricing BEC to fail (and with insto selling pressure continuing, sp aint gonna go up again soon), there will still be quite the handsome release of cash given the size of the discount of NTA to current sp.