Hi Richard, thanks for your analysis. Just a point on the franking credits. The balance in the annual report at 31 March 2021 of $28.346m represents whole dollars. To make a 7c dividend you need 3 c of franking credits. At approx 330m shares 7 cents cash dividend $23m approx in cash and $9.9m in franking credits . So we still have a enough for quite a bit more in franked dividends .
Ann: Special Dividend, page-14
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