The last dividend for the combined entity was 6.5c and the...

The last dividend for the combined entity was 6.5c and the following guidance is provided on page 18 of the demerger booklet:

To assist in providing a tax efficient distribution to shareholders of the TabcorpGroup’s FY22 final dividend, it is currently anticipated that New Tabcorp will pay afinal FY22 dividend in or around September 2022 with reference to the five monthsof The Lottery Corporation earnings prior to the Demerger in addition to the 2H22earnings of New Tabcorp, noting that the payment of any dividend will be subject tolaw, business performance, and all necessary Board approvals. In order to receivethis dividend, you must be a shareholder of New Tabcorp as at the dividendrecord date, which is anticipated to be in or around September 2022.It is currently expected that any FY22 final dividend to be paid by New Tabcorpwill be determined in accordance with the target dividend payout ratio of Tabcorpas at the date of this Demerger Booklet (being 70% to 80% of net profit after taxexcluding significant items, on an annual basis).

So my guess is around the 5c mark (FF).