I can envisage a scenario with some kind of capital raise followed by a FF dividend. To provide enough liquidity to utilize all franking credits.
For example (figures arbitrary) raising 2cps followed by a 4cps FF Div
Sir Ron and Gary Weiss had a 1:10 rights issue followed by 1:10 bonus issue and a Div for many years in BIL - Brierley Investments.
I can envisage a scenario with some kind of capital raise...
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