It is in line with longstanding guidance of 6% dividend as...

It is in line with longstanding guidance of 6% dividend as percentage of 1 July 2015 NTA. I agree full franking would have been better, but that obviously depends on tax paid on profits and as NTA did not rise much in the half year it is hardly surprising. Final is supposed to be 3.7cps and the degree it is franked will depend on whether than get realised capital gains to top up franked dividends received. They had a surprisingly high proportion of investments not paying dividends when I asked at the AGM, though I cannot quote the number off the top of my head.