"At end December 2018, Viva reported just AUD 46.4 million in its franking account, not materially useful for tax-effective capital initiatives. So off-market buybacks or franked specials are off the table."
That was Morningstar's (wrong) take pre announcement. The franking balance as at end 2019 was $44.8 million, to be further reduced by 2.6c dividend payable April 2020. It will be interesting to see just what is on offer in the off market buy back.
VEA Price at posting:
$1.89 Sentiment: Hold Disclosure: Held
