Franking Credits

I was paid two dividends (out of four) by IOZ this tax year and each dividend was at a varying franking level, or so the information given in my tax summary shows. So the tax summary on the IOZ webpage states:

	Column 1	Column 2
0	Franking Level of distributed income	48.3285%

Which I gather is across the whole four dividends, however i have received franking credits of around 25%

So am i right in thinking you only receive the franking credit attributable to each of the quarterly dividend paid, and so unless you hold for a full year you will receive a varying level of franking?

Also should i trust what is generated on my etrade tax report? I feel i should double check with IOZ documention (however the dividend payment reciepts dont show the level of franking)

any help would be great,

cheers