The rule on the prefs is that if a dividend is declared on VRL they MUST pay a div that is either a) 10c per share or b) 3c higher than the VRL div - whichever is greater. It says this quite clearly in the annual reports and company constitution. YOU CANNOT POSSIBLY GET LESS DIVIDENDS AS A VRLPA HOLDER THAN A VRL HOLDER.
Ed
edwardsh re vrl, page-2
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