Thanks as always Jako.
Yes, it is entirely possible that you can pay dividends in 2 tranches if you don't have enough franking credits at any one point in time and are expecting to pay more tax down the track. This makes some sense given that you need to pay 42m total in tax to fully frank a 100m dividend. Not sure IVA meant this at the time, but as you say, Shaw may have had further discussions.
from shaws morning notes, page-29
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