Ann: Appendix 4E and Financial Statements, page-2

So we don't have any franking credits. Paying a return of capital - what does everyone think of that? This used to be my star performer but this year hasn't been good. A lot of Stock pickers have hurt this year so they are not alone.

I think though that this was a darling with SMSF's but they all want the franking credit so a capital return actually drops their earnings. Plus what is the risk if earnings are less than 3c and payout is 8c...

I really don't think a neutral stance works for these guys.