question on vrl or vrlpa, page-2

My understanding is that both VRL and VRLPA will receive a dividend of 3.75 cents. the dividend declared was an interim dividend.

I expect, but not sure, that a final dividend will be declared in November. To make the dividend comply with the rules the final VRLPA dividend would have to equal at least 10.175 less the 3.75 cents interim dividend and the final VRL dividend would have to be 3 cents less than the VRLPA dividend.

While the VRLPA dividend must be at least 10.175 cents per share if declared there is no ongoing requirement that VRL actually pay a dividend. Consequently, VRL went through a period of not actually paying a dividend for a number of years.

Regards

SP