no. Franking credits only exist to the extent of tax paid in Australia. Because ANZ took a bath on its Australian operations due to the RC, it paid significantly less tax. It has huge NZ operations which doesn’t generate franking credits.
Therefore it didn’t pay enough Australian tax to generate enough franking credits to fully frank all its dividend which comes partially from NZ.
itll return to fully franked one day.
on that note bought another 1000 shares at 26.12
Ann: Dividend/Distribution - ANZ, page-3
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