In simple terms to pay a fully franked div ANZ has to pay more tax.
As a retiree I prefer a larger unfranked div into my smsf, effectively I am getting the franking credits sooner.
I suspect they look at the age of shareholders and try to maximise returns to maintain share price etc.
Plus COMMSEC and other tools show the yield based on the payout and ignore the franking part.
A div of 83c on $30 looks better than 76c on $30 as a percentage, but the full franking on 76c can result in a slightly bigger return overall by about .7 of 1 c.
Ann: ANZ 1H 2025 Results Presentation & Investor Discussion Pack, page-4
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Last
$29.57 |
Change
-0.060(0.20%) |
Mkt cap ! $87.35B | |||
| Open | High | Low | Value | Volume |
| $29.48 | $29.57 | $29.31 | $38.61M | 1.312M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 3876 | $29.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $29.57 | 5290 | 21 |
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| Last trade - 12.37pm 16/06/2025 (20 minute delay) ? |
| ANZ (ASX) Chart |