I think franking credits are a very minor issue. Remember this company for many years paid no taxes ( due to massive write downs and losses) It paid no dividends for a long time as well.
What investors want are capital gains. And as you can see over the years, those have been limited. This is trading well below the late 2000 era when the share price was nearly $50.
I have no doubt, this would trade much higher if you take away the Port Kembla Steelworks. It's very inefficient and the workforce lazy and entitled.
BSL Price at posting:
$22.43 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)