Hi, I would normally include a franking credit in my calculations (as I did in the case of the banks). Of course some domestic investors may be missing the franking credits with labour's proposed changes. Investors have to pay tax on the franked up dividend.
An investor in the top bracket is paying almost 50 cents in the dollar on the fanked up total. I try to stick as much money as I can in my SMSF to help reduce this double taxation. But the proposed changes mentioned above could hurt this strategy, if my franking credits exceed the tax paid on this account.
PS the AMC downgrade magnitude was largely immaterial, but the negative wording seems to have had a dampening effect.
AMC Price at posting:
$13.50 Sentiment: Buy Disclosure: Held
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