somalian bidding war, page-23

Not disagreeing with everything above - just wanting to point out one key thing... To have a FRANKED Dividend, you have to make a profit AND pay tax. I don't beleive Range has done either, and until it does, it cannot issue a FULLY FRANKED dividend (Capitals for emphasis).

So all this talk on a fully franked dividend is just to early to even justify. Not if lodging a return in Australia they have till may of the following year to lodge a return and pay the tax. Why would they pay the tax earlier when they can utilise the cash-flow.

If a return was coming to the shareholders I would say short term more likely to be a Return of Capital than a dividend! Pretty sure that ROC has actually been mentioned in the past!