If I am not mistaken, the announcement indicates that...

If I am not mistaken, the announcement indicates that shareholders have paid a Corporate Tax of 30% on this dividend. So the actual amount we are being paid into our accounts is 70% of the dividend, if you divide the dividend by 0.7 you will get the gross dividend, which in this case would be AUD$1.37/0.7 = AUD$1.96 . The other 30% has been withheld to pay the tax. And the ATO recognises that we have paid our 30% tax under the heading or system currently called "Franking Credits". It is not a credit at all, it it is recognition that we have already paid 30% tax on our dividends.

If I am correct, please consider this type of terminology when discussing this dividend: "I received a dividend of AUD$1.96 per share, and the company took out 30% Corporate Tax, so I receive AUD$1.37 into my account. I have paid tax of AUD$0.59 on every BHP share I own. Not only am I contributing to the Australian economy by investing in a large Australian Company that employs many Australians, I am also contributing about 60c per share, or 30% of the dividend, into the Federal Government coffers."