I suspect the opportunity to write down their cinema assets, and other asset around the world was a good opportunity for the Kirbys to "dress" down VRL's profitability for the year to argue that divs should not be paid on the prefs.
Still, this issue on divs on prefs is not dead yet, despite what the Kirbys may think.
There is a legal aspect to it, and you have two fund managers, Investors Mutual and Hunter Hall who have threatened legal action against the board of VRL over this issue.
I hold VRLPA.
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