ANZ Banking Group
(ASX:ANZ) has set the record straight on an article published in the Australian Financial Review.
The article states that ANZ paid an instalment on its 2016 financial year company tax in order to get enough credits to maintain a fully-franked dividend in 2015.
ANZ says this is incorrect characterisation of the availability of franking credits and tax instalments are paid in the normal course of business.
ANZ also said franking credits are only of use to shareholders who receive them and ANZ doesn’t believe in surplus franking credits but it does intend to fully frank dividends for the foreseeable future.
ANZ reported a net profit of $7.5 billion for the year to end September 2015.
