Hi turbo3000,
$2.11 is the dividend declared after FMG has fully paid Aus Coy Tax at 30%
- as per announcement:
"3A.3 Percentage of ordinary dividend/distribution that is franked 100.0000 %
"3A.3a Applicable corporate tax rate for franking credit (%) 30.0000"
So I take $2.11 divide by (1 less 30%) = $2.11 / 70% = $3.01
IE $3.01 less $2.11 = franking credit of $0.90
Alternatively, $3.01 @ 30% = $0.90
Trust this helps,
Regards, LP
Iron ore price, page-36712
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