CWP 1.78% $4.41 cedar woods properties limited

I have been doing some sums on Cedar Woods franking...

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    I have been doing some sums on Cedar Woods franking account.
    Profit on sale of building $16,800,000
    Number of shares on issue 82,209,931
    Amount in franking account $117,135,000 could support a special dividend of $3-32.
    Now, $16,800,000 divided by 82,209,931 =20.04 cents per share,

    Any comments?
 
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