Time To Sell, page-7

Sorry, it does seem as if there will be some franking?

see here-: Estimated interim distribution for the six months ending 31 December 2017.
APA Group (ASX:APA) today announced an estimated FY2018 interim distribution of 21.0 cents per security for the six months ending 31 December 2017.
This represents a 2.4% increase over the FY2017 interim distribution per security.

The actual amount of the interim distribution and its tax deferred status will be confirmed following finalisation of the half year results, which are due for release on 21 February 2018.
APA expects to allocate approximately 2.5 cents per security in franking credits to the interim distribution (FY2017; 2.0 cps).
The key dates for the interim distribution are:
Securities trade ex-distribution 28 December 2017
Record Date 29 December 2017
Payment Date 14 March 2018
APA has previously advised that it expects distributions per security for the full year to 30 June 2018 to be in the order of
45.0 cents per security. As per current APA distribution policies, all distributions will be fully covered by operating cash
flows.

Don't get sucked in.