future fund sell down, page-43

Yes what I meant is that the dividend is included in the price that the future fund got for the shareholding, because, as you know, the sp usually falls by the dividend amount on ex-div day. The funds that bought the shares would be entitled to the dividend and franking credits.
Yes that would have been part of the appeal to purchasing so many of them in one go. Presumably UBS advised the Future Fund that this was the best way to dispose of so many shares. They do the deal overnight without too much fuss and collect their 1% commission.
What do you suggest as an alternative that doesn't involve some sort of protracted process?
As far as retail investors go by the end of Friday we had a chance to pick up shares at $3.47 as well.
The future fund already flagged months ago that they would sell down their stake in Telstra once the holding came out of Escrow. I had no idea myself how they would achieve that.
Perhaps sell them slowly over time or a share buyback by Telstra crossed my mind. Shows you how much I know.