NOTES TO THE FINANCIAL STATEMENTS
(CONT’D)
31 DECEMBER 2015
12.
DISTRIBUTIONS
Distribution Type
Name of Distribution
Distribution during the year (interim distributions)
Distribution Type
Income / Capital
Group and Trust
2015
2014
2015
2014
Cents
per unit
Cents
per unit
$’000
$’000
Tax-exempt income
(1)
:
1.43
1.41
38,949
34,742
Capital
(2)
:
0.86
0.64
23,914
15,677
Subtotal :
2.29
2.05
62,863
50,419
Name of Distribution
Distribution declared subsequent to year-end (final distribution) (Note 32)
Distribution Type
Income / Capital
Group and Trust
2015
2014
2015
2014
Cents
per unit
Cents
per unit
$’000
$’000
Tax-exempt income
(1)
:
0.50
0.48
14,095
11,718
Capital
(2)
:
0.31
0.23
8,595
5,877
Subtotal :
0.81
0.71
22,690
17,595
Total distributions
(3)
3.10
2.76
85,553
68,014
(1)
Unitholders are exempt from tax on such distributions.
(2)
Such distributions are treated as returns of capital for Singapore income tax purposes. For Unitholders
who are liable to Singapore income tax on profits from the sale of the Trust’s Units, the amount of capital
distribution will be applied to reduce the cost base of their LMIR Trust Units for Singapore income tax
purposes.
(3)
The Trust makes the distribution quarterly. The distribution rates above are based on the amount distributed
quarterly divided by the Units outstanding as at the end of the relevant quarters.
The amount of the distributions paid in the year totalled $80,458,000 (2014: $64,224,000).
Current distribution policy:
The Trust’s current distribution policy is to distribute at least 90% (2014: at least 90%) of its tax-exempt income
(after deduction of applicable expenses) and capital receipts. The tax-exempt income comprises dividends received
from the Singapore tax resident subsidiaries. The capital receipts comprise amounts received by the Trust from
redemption of redeemable preference shares in the Singapore subsidiaries. The Trust has distributed 100% of
its tax-exempt income (after deduction of applicable expenses) and capital receipts to-date.
ANNUAL REPORT 2015
101
