Distributions
Distribution History
|
|
|
11 Dec 2006 - 30 Jun 2007
|
25 Jun 2007
|
29 Jun 2007
|
17 Sep 2007
|
14.0
|
|
1 Jul 2007 - 31 Dec 2007
|
21 Dec 2007
|
31 Dec 2007
|
17 Mar 2008
|
13.0
|
|
Distributions to Securityholders are expected to be payable half yearly in arrears in March and September in respect of the preceding six month periods ending 31 December and 30 June. The first distribution to Securityholders was paid at the end of September 2007 in respect of the period from the Allotment Date to 30 June 2007.
The distribution policy of BBP, unless otherwise determined by the Responsible Enitity and the Directors, will be to pay the net cash proceeds from free operating cash flows less debt servicing and such sums as the Directors determine as prudent to retain to meet working capital, maintenance capital expenditure and other requirements of the business.
However, the Directors are under no obligation to make a Distribution and the amount of any Distribution from companies or investments that have outside interests will be reviewed by the respective Directors of those companies.
The Directors will consider prevailing circumstances when determining the weighting between interim and final Distributions and will endeavour to make such weighting as even as possible but there can be no assurance that this will be the case and accordingly weighting may vary from time to time.
The Directors can give no assurance for any future period regarding the payment of Distributions or the extent of payout ratios, as actual events might differ from the assumptions used in assessing the anticipated ability of BBP to pay the forecast Distributions.
No guarantee can be given about the payment of Distributions, the level of franking, or the pay out ratio for any period, as these matters depend upon the generation of profits and cash from the operations and investments and the future financial and taxation position of BBP.
The Directors intend to implement a Distribution Reinvestment Plan (DRP) for operation during financial year 2008. The DRP enables Securityholders to use their cash distributions to pay for the purchase of additional fully paid Stapled Securities. The Stapled Securities will be issued at a discount of 2.5% to the Volume Weighted Average Price of the Stapled Securities traded on the ASX during the 10 trading days commencing on the second trading day after the record date for that distribution.
No brokerage or commission is payable on Securities issued under the DRP.
The Directors may amend, suspend or terminate the distribution reinvestment plan as and when they think fit.