re dividend Arrium as a group isn't actually paying tax this...

re dividend

Arrium as a group isn't actually paying tax this year to the ATO they are using up tax losses from previous years.

i.e. in the 1H14 results tax was $59m but the actual cash tax paid was $30m.

calc ((59-30)/1366) = 0.02

So that difference of 2 cents a share 'might' have been a factor in the 6 cent dividend.

Basically if it was franked it would have been 4 cents plus 1.72 franking makes up a total of 6 cents.

So as they are using up balance sheet tax losses instead of paying cash tax in Australia. In a way it is simulating franking.

I just wonder if the board might want to make a statement by declaring another 6 cents?

They CAN and should!