hi Seanmorr
CMCS syndicate 28 is a closed syndicate of unitholders which is "managed" by CNP.
Following "sale" of property and hence a lower LVR the syndicate can now afford to pay some sought of div.
eg. divs are not coming from CNP's pockets, rather CMCS28s.
david jones plaza sold at 30 06 09 book value, page-4
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