Massive Panic in Shorters Today, page-106

A couple of global factors seem to be pointing in BSL's favour at the moment. Tell me if I'm on the right track:
1. The Dow dropping overnight on concerns that a trade deal won't be reached... I understand BSL's profits have been boosted by the tariff situation. So this is probably good for BSL.

2. Labor's imputation policy makes franking credits less valuable. At the moment BSL generates huge cash but still has tax offsets to use so isn't paying income tax, so doesn't generate franking credits. That means compared to other blue chips, a dividend from BSL has a lower grossed up yield. If Labor is elected, which looks like the bookies favourite, then the difference between BSL's dividend and other companies becomes smaller. This might make BSL more inclined to pay dividends, especially as share price goes up, rather than buybacks. 

Agree?