The way I look at value of TIMPB:
March Fully franked dividend 6.73
Sep fully farnked dividend 6.73
Total dividend 13.46 cents
Grossed up for franking credit 19.22 cents.
Conversion @ 4 TIM for every TIMPB based on TIM @ 11 cents = 44 cents
SO TOTAL VALUE TIMPB = 63.22 cents
If you like TIM at 11 cents, better to buy TIMPB.
If you don't like TIM, sell short CFD
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