Petert
I’m not an expert and I wasn’t at the AGM however
From the chairman’s address he said
“Our approach is to be judicious with the management of profits and not hasty with the declaration of dividends”
This indicates to me that CST is not planning to pay a dividend at this point in time!
He also said
” Shareholders should also note that until Australian income tax is actually paid, franking credits do not arise.”
From what I understand income tax would not have to be paid until accumulated losses have been covered. We still have approximately $10 million worth of accumulated losses to date, so any dividend paid at this point in time would be unfranked (not that that would bother me too much).
If sales and profit trends continue then I am confident that by the end of this financial year we could be looking at a franked dividend (or at least the losses will be taken care of)!
Regards
Bigtosky
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