The REF Board have taken the decision that the transaction will achieve the best return for shareholders and propose using the proceeds to pay a fully franked special dividend in the range of $2,500,000 (representing 2.7 cents per share) following completion of the transaction. REF has $4,300,000 in franking credits as of 30 April 2019 with a portion to be utilised for the special dividend.
Let's say it goes as proposed that's 2.7c Div and a shell with $1.8m of FC for $0.034. Cheap?
REF Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held