The big 4 Banks & dividend trouble ahead, page-12

Well the thing is, the 20% divvy cut to 69c actually relates to the interim divvy (last) of 86c. -20% = -17c = 69c, but the wording of second half could relate to the fact that the interim is paid on 1 July each year.

If that were to follow through to the final divvy, we could expect a final of 76c, thereby a full year of $1.45.

At the current sp of $24.00, that would still represent a 6.04% divvy, + 2.588% of franking credits = a fully grossed up divvy to retirees of 8.628%.......not to be sneezed at in any terms, especially if the sp gets trashed even further and the economy stays sluggish.