I have gone back to read the booklet again and found this useful information about the dates and eligibility for franking credit. They have worked it out that the 4th of Nov is the last date to buy shares to be eligible for both the buyback and the franking credit. I also feel that if the share price goes up a bit towards 25+ by 17 Dec, the number of applications will be high and the scaleback would happen. One is only likely to sell 380 shares at the max discount of 14%. According to an article mentioned one poster here, one may gain $1 with the franking credit added in. So, that's about 4% on the purchase price of $24. Is it worth participating and waiting until tax lodgement time to get the money back? So, my opinion is that one can put some shares into this buyback thing and keep some shares and wait for the share price to go up and collect dividends in the meantime. WBC at around $23 is good anyway. And if one can trade option, selling covered calls on the holding is good to get some extra cash.
WBC Price at posting:
$23.15 Sentiment: None Disclosure: Held
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