My calculations exceed this. They have said they would pay...

My calculations exceed this. They have said they would pay dividends to the extent of available franking credits such that the dividend is fully franked.

Fenix paid $10.7m income tax in May. Rob said in the recent video preso there is $4.3m provisional tax payable per quarter. the first quarterly payment will be August - before the final dividend. Thus total franking credits $15m.

Divide this by Fenix's income tax rate of 0.3 (30%) gives $50m as a gross dividend inclusive of franking. Multiply by 70% (1 - tax rate) gives $35m net (cash) dividend payable at 100% franking.

Divide by 516m SOI = 6.78 cents per share - allowing for roundings gives 6.75 to 6.8 cents per share dividend.

The upper limit of dividends to NPAT has been given as 80% (50% to 80%). At 80% dividend to profit gives $62.5m NPAT. My understanding is that NPAT should exceed this. If not, use the 80% of NPAT to recalculate the net dividend per share.