An unfranked dividend needs to be 43% higher than a franked one to be considered equal.
So if company A pays a $1 franked dividend and company B pays a $1.43 unfranked dividend then in that situation, then after tax they are essentially equal, both will leave you with the same amount of after tax dollars in your pocket all else being equal.
So if you are comparing franked dividends to other sources of income such as bank interest, you need to “gross up” the franked dividend by either dividing by 0.7 or multiplying by 1.43.
for example a 5% dividend yield is the same as earning 7.15% in a term deposit that doesn’t have a tax credit.
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