Ann: Indicative NAV COB 01/10/2021, page-5

You should not expect fully franked dividends from FOR.
It's a trust and most of its earnings are generated by capital gains.
So the distribution contains very little franking credits.
However most capital gains are eligible for 50% discount which is better than franking IMO.

https://foragerfunds.com/news/understanding-the-for-distribution/

I wonder if Forager could do a partial off market buy back at close to NTA like PM Capital did with PGF/PAF a year ago.