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From 2006 until 2009, SKYCITY Entertainment Group operated a Profit Distribution Plan (PDP) as outlined below.
The PDP was discontinued for the September 2009 dividend and SKYCITY has paid cash dividends since that date. Under the PDP structure, shareholders received distributions in the form of shares (as a non-taxable bonus issue), but had the option to have those shares bought back by SKYCITY for cash. The New Zealand Inland Revenue Department had confirmed that the bonus share issue was a non-taxable distribution, but that any cash received through electing the buyback option was deemed a dividend for tax purposes. The PDP can be viewed in the ‘Additional Information’ box on this page.
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ADDITIONAL INFORMATION |
Profit Distribution Plan
