BSL 2.38% $20.62 bluescope steel limited

Ann: 1H FY2023 Results Presentation, page-13

  1. 1,709 Posts.
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    I notice the majority of the EBIT was made offshore and only $274M in Australia and therefore only around $80M would have been paid as tax in Australia and available for franking credits. This would explain the low dividends as they would need to ensure they have enough credits to pay out the final dividend fully franked with reducing revenue in H2. This may be an ongoing issue with BSL as they have concentrated on expanding their business outside of Australia and therefore may never have enough franking credits to pay decent dividends. IMO
 
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