If you look at the history of APAC controlled entities… they are more than happy to pay a dividend but only if it’s fully franked. This makes sense as why distribute something that will automatically lose 30% off it from the tax man versus buying an accretive investment or even your own stock.
Fortunately (or unfortunately) MLX sits on a truckload of tax losses and will not be in a tax paying position for some time (pending tin price).. so I don’t see a dividend any time soon.
Ann: Appendix 4D and Half Yearly Report and Accounts, page-6
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