Disagree, it doesnt always work and you would need to factor in capital gains tax and any discounts if you held long enough.
Taking a capital gain on the stock is an added hit and some time would be better off holding for the franked portion.
In my position specifically, i'm better off with the dividend and franking credit, as opposed to selling and paying the capital gains tax portion.
Plus i can then re invest the dividends for the share price drop you speak of and get the discounted shares, building a bigger position in the company.
Rooks
Ann: 2022 Full Year Financial Results Presentation, page-107
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