From a personal tax point of view, it would be preferable for a...

From a personal tax point of view, it would be preferable for a franked dividend to be paid before June 30th. If it is paid early in the next financial year, then the franked component does not translate into cash until the tax return is submitted at the end of that financial year and the ATO gets round to sending a cheque. So, CFE please get on with the IPO and declare any franked dividend before 30th June - very unlikely in my opinion!!!