News: EGN Engenco Says Documentation With NAB Executed To Provide Co With Debt Facilities, page-4

LIndo, Not sure if you finished mid-thought there? The election will no doubt be after the half year reporting time frame so boards might be jumping the gun a bit to be paying special dividends on that basis. However, lets face it, it will be a surprise now if these tax changes aren't implemented in the new year. I think the election must be held by mid May so in theory there might be a small window in which a special div might be paid prior to June 30. I haven't been aware of any companies declaring a special dividend yet or even flagging the possibility? 

As an aside it will be interesting whether payout ratios do reduce to any significant amount over time. Australia's high level of dividends is often cited as one of the key reasons for the under performance of the Australian market relative to other markets around the world as shareholder capital is returned to investors at the expense of growing the business. I don't really believe that to be the reason for the under performance but if shareholders are less inclined to push for dividends companies will be less inclined to pay them I suspect.