the company is not paying franking credits, haven't paid tax on 19.4m yet either, if they distribute 19.4m as q1 div, how to dodge the '30%'?
fy20 eps after tax, 33.95c > div fully franked paid 33c fy19 eps after tax, 28.38c > div fully franked paid 27c fy18 eps after tax, 20.22c > div fully franked paid 18c
fy19 q1 pbt 13.5m, q1 div fully franked paid 5c, 160,714,369 total shares, 13.5m * 0.7 > 0.05 * 160,714,369 fy20 q1 pbt 18.4m, q1 div fully franked paid 7.5c, 169,693,180 total shares, 18.4m * 0.7 > 0.075 * 169,693,180 fy21 q1 pbt 19.4m, q1 div fully franked paid 9c, 172,190,281 total shares, 19.4m * 0.7 < 0.09 * 172,190,281
total shares are growing, not every cent was distributed, div is based on earning per share --->> growth on eps (div) < growth on profit nippa is right, franking credits could be from previous years tax, but that's not what the strategy is, so, the company will have to distribute some profit reserved from previous years to match q1 gap.
yeah yeah, i'm wrong, i'm just wasting time here
DDR Price at posting:
$9.22 Sentiment: Hold Disclosure: Held
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