Question 1060 franking credit, personal tax on dividends, imputation tax system
The implantable hearing device company Cochlear Ltd (ASX:COH) announced a 40% franked cash dividend of $1.45 per share on 19 Aug 2022. Cochlear's Australian corporate tax rate is 30%.
Which of the below statements about this dividend is NOT correct? All figures are rounded to 6 decimal places. The $1.45 dividend corresponds to: