Anyone else find it odd that the franking is down to 68% on the dividend? .
In the annual report they said that it is in franked because it is foreign income, that's fine. The problem is that they said only 20% of their income is foreign leaving 18% of their dividend without an associated franking credit. If they didn't pay the tax then did they really make the money? I must be missing something because I would never believe that the ATO would let ccl.ax avoid tax on profits from Australia and it doesn't sound believable that ccl.ax would be over stating their profit by 18% in their reports. Anyone able to help me understand why the franking credits are missing?
CCL Price at posting:
$12.13 Sentiment: LT Buy Disclosure: Held
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