Ulysses bpp revision kit divident paid

Dear Tutor

I have a problem with the answer to BPP’s following question.

Ulysses owns 25% of Grant, which it purchased on 1 May 20X8 for $5 million. At that date Grant had retained earnings of $7.4 million. At the year end date of 31 October 20X8 Grant had retained earnings of $8.5 million after paying out a dividend of $1 million. On 30 September 20X8 Ulysses sold $600,000 of goods to Grant, on which it made 30% profit. Grant had resold none of these goods by 31 October.
At what amount will Ulysses record its investment in Grant in its consolidated statement of financial position at 31 October 20X8?

This is BPP’s answer:
All calculations are in thousands

Cost of investment – 5000
Share of post-acquisition profit (8,500 – 7,400) × 25%) – 275
PURP (600 × 30% × 25%) – (45)
Total – 5230

My opinion is that if an associate (Grant) pays out dividends don’t we have to deduct in the cost of investment the dividend share that we received therefore deduct 1000*0.25=250 ?

Thank you.