of course it depends on the particular company circumstances, i agree
but look at the recent example where YAL paid 14% yeld unfranking vs NHC paid 10% yield franked.. note the 30% difference.. with apparent lack of franking credits yal just paid untaxed gross amount...
my point that in any way you are going to get the same..
Ann: Dividend/Distribution - NHC, page-21
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