Update on franking of special dividend
- As announced on 15 June 2010, Cape Lambert board has resolved to return a A$0.07 per share special dividend to shareholders,
- External tax advisors have now finalised reviewing theCompany’s franking account,
- The Board is pleased to advise that the Company has sufficient franking credits to fully frank the special dividend.
On 15 June 2010, Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) (“Cape Lambert” or the “Company”) announced a return to shareholders of approximately A$44 million, by way of a A$0.07 per share special dividend. The Company is pleased to advise that external tax advisors have now finalised reviewing the Company’s franking account balance and Cape Lambert has sufficient franking credits available to enable the payment of the special dividend as fully franked rather than partially franked as previously contemplated. The payment of this special dividend brings the total returned to shareholders in the past two years to approximately A$144 million.
“Being able to fully frank the special dividend is an incredibly positive outcome significantly reducing the tax payable on the dividend by shareholders.” CapeLambert Executive Chairman, Mr Tony Sage, said.