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Hi Richard , no problem. There was a note in the accounts about...

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dale66

22 Posts.

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31/01/22

15:53

Post #: 59248276
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Originally posted by richardwth: ↑

Hi Dale 66

Yes you are right. I am usually very careful to avoid this error, so I’m embarrassed by not reading the description of the FC balance in the 2021 AR correctly. I agree the F balance at 31/3/21 was about 8.3c of franking thus equivalent to be able to frank 19.5 cents of cash divs. Since then TGA paid divs of 1c in July and 7.5c on 9 Feb 22 = 8.5c which will leave sufficient FCs to fully frank another 11c of cash. (This assumes that there have been no adjustments to the F balance at 31/3/21 e.g. for tax paid or refunds). Thanks for pointing out my error- which prompted me to check my figures and rectify the mistake.Let’s hope TGA will, in the next few months, pay another 11 or 12c of ff divs AND provide an additional return of capital tax free. It will be helpful to get a “clean” set of accounts for 31/3/22 showing the simplified business, but we won’t get that until late May

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Hi Richard , no problem. There was a note in the accounts about a tax refund, so the balance might be a bit less. Hopefully they will use the rest of the franking credits soon.

TGA Price at posting: 23.5¢ Sentiment: Hold Disclosure: Held
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