Interesting to read the 2016 financials. ERM had "Unused capital tax losses for which no deferred tax asset has been recognised" of $15,127. Full year EBIT was $52.7 million in 2016, which indicates that ERM should use up it's deferred tax losses in the first half of 2017 - i.e a portion of the interim dividend should be franked. In effect the yield is better than it appears...
