One point to note is the terms of the NAIF loans.NAIF Loans generally have to be repaid back before dividends of any real substance are paid.
Not sure re this. The largest broker covering STA has 8 cps being paid in 2 FY's time from now. The following year divs should be fully franked from my calcs
https://www.strandline.com.au/irm/content/broker-reports.aspx?RID=481
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