declares 4c dividend and suspends reinvest plan

obviously dont need any more cash so have suspended the dividend reinvestment plan?????

AUSTRALAND DECLARES JUNE 2005 QUARTER DIVIDEND/DISTRIBUTION
AND SUSPENDS DISTRIBUTION REINVESTMENT PLAN
Australand Property Group announces that pursuant to Listing Rule 3.20 and Appendices 3A(1) and 6A(1):
• The dividend/distribution for the June 2005 quarter will be 4 cents per stapled security, comprising a 2.3 cent fully franked dividend and a 1.7 cent distribution, tax deferred to an estimated 28%.
• The Books Closing date (Record Date) for determining the entitlement to this dividend/distribution will be 5.00pm on Thursday, 30 June 2005.
• Australand Property Group stapled securities will be quoted ex-distribution on Friday, 24 June 2005.
• This dividend/distribution will be paid on Wednesday, 3 August 2005.
• In accordance with the Rules of the Australand Property Group Distribution Reinvestment Plan (“DRP”), the Directors have determined to suspend the DRP until further notice.
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For further information, please contact:
Phil Mackey David Craig
Company Secretary Chief Financial Officer
Tel: +61 2 9767 2182 Tel: +61 2 9767 2041
Email: [email protected] Email: [email protected]