We know Karoon has imputation credits it can attach to dividends worth $19 million in the last accounts, presumably earnt from tax paid some time ago in Australia.
Does anyone know whether Karoon will earn foreign tax offsets from tax paid by Who Dat? It could be the Who Dat exploration expenditure reduces (eliminates?) tax payable in the USA early on. If they are paying tax in the USA I assume they will earn foreign tax offsets. That suggests dividends will have franking credits (at the start) and then foreign tax offsets (ongoing). My broker does not even mention the franking credits in its latest valuation.
Clearly a significant issue for shareholders in terms of the value of dividends (and buy backs).
Ann: 2024 Second Quarter Report, page-59
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