CIX is an unusual company in that from a previous life it ended up with over $200m of tax losses (some in dispute with ATO but abt $80m agreed on) and $26m of franking credits, of which it will use $2.2m for these current dividends.
That is, it pays no tax but can still pay fully franked dividends, and this should be the case for at least the next 5-10 years, provided major share holders do not change.
Regards Westwind
CIX Price at posting:
30.5¢ Sentiment: None Disclosure: Held
