Ann: Allkem and Livent to merge - presentation, page-164

Yes I am an Aussie ... lived and worked in the USA for a long time though. Back home in oz now (and retired). Franking credits are unique to the individual I guess and dependent on tax. For me not an issue. Hold AKE in SMSF. Hold ALB in the equivalent of SMSF in the USA. Don't hold LTHM.

US companies typically don't pay the high dividends of ASX companies. This is a financial thing. What's a company to do with "surplus cash" and then how to distribute to shareholders (dividends & buybacks being the most common). I always like to see a company reinvest in the business wherever and when possible, especially when they can get a higher FCF yield than I can. So I prefer capital appreciation (in appropriate tax sheltered account) and then pay tax later at the time of my choosing on disposal. That's a personal choice though. Varies by situation I would think.

What I do think though is this merger does give AKE a (much) stronger asset base (especially in spodumene and hydroxide) and much better customer base as well. That's worth a lot more to me than dividends or franking credits.