You get franking credits on all unfranked or partially
It isn't up to the shareholder - it is the framework established by the company accountants
If you change the rules, you change the outcome.
Victoria introduced extra taxes to fund stupid hole in ground rail. I moved much funds to Qld. Changed from ASX to real estate as property surges in the top end.
If a moron wants too hit franking, money will move faster than a speeding bullet.