Massive dividend component on that share buy back. Using those franking credits up before Bill Shorten can get his grubby mits on double taxation.
It’s a shame we are forced to use them up now in the event of a socialist government coming into power. Would have preferred a full buy back of PLC shares. However in light of our likely government regime change, it makes sense.
It still staggers me in the day of information how 95% of the population has no idea on these issues. I guess Kim Kardy’s new outfit is more important than understanding economics!!!
Ann: Rio Tinto Limited share buy-back - Appendix 3C, page-2
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